Adidas acquires warehouse near Moscow

By

Rüdiger Oberschür

Published
Aug 18, 2015

Despite the economic crisis, Adidas holds on to the Russian market. According to Russian media reports, the sportswear label has purchased a warehouse near Moskow, which was later confirmed by a spokesperson to FashionMag. 
 

 The deal was offered in rubles rather than dollars, which made the property more favorable to the German label due to currency exchange rates.

The price has been speculated to have reached between $70 and $100 million dollars (€63 and €90 million euros), although the rumors haven’t been confirmed by the sportswear giant.

Even though Adidas´s revenues have plummeted, Russia is still a valuable export destination for the sportswear brand. In the first half-year of 2015, Adidas’ revenue in Russia sank by 9.7% due to unfavorable currency exchanges. Converted to euros, the company registered a 32% fall to €366 million.