by Alyssa Oursler | August 2, 2012 9:41 am
Olympics merchandise has been flying off the shelves for Adidas (PINK:ADDYY), and the company has made back all the money it spent sponsoring the London games.
100 million pounds, or $156 million, of Olympics merchandise has been sold since products like tee shirts, soccer kits and wristbands debuted around year ago — and that’s just the beginning. More products are on their way, and the biggest sales are expected to come now that the games have started.
And so far, licensed product sales are already more than triple sales in Beijing — making it the most successful Olympics ever for the company.
The big earnings come on the heels of the Euro Cup 2012, which is helping Adidas on its way to a year of record soccer sales: over 1.6 billion euros, or $2 billion.
Soccer tournaments are always expected to bring in more money than the Olympics. For that reason, Adidas is not going to be the official sportswear partner of the Brazil games in 2016, and will instead focus on the 2014 World Cup in Brazil.
For now, though, the Olympic games have indeed been helping business boom.
Source URL: https://investorplace.com/2012/08/olympics-boost-adidas-earnings/
Short URL: http://invstplc.com/1nDmGSn
Copyright ©2017 InvestorPlace Media, LLC. All rights reserved. 700 Indian Springs Drive, Lancaster, PA 17601.