Adidas CEO Bjorn Gulden says this key strategy turned the company around

The key to Adidas’s recent revival? Getting rid of all the “no-sayers,” CEO Bjorn Gulden told an audience at the Fast Company Innovation Festival in New York. He credits this strategy for turning the brand around after a tumultuous period. When Gulden took the reins at Adidas in January 2023, the sporting goods and apparel giant was dealing with the fallout from its Yeezy partnership with Kanye West. The once-lucrative alliance had recently crashed and burned after the rapper made a series of offensive and antisemitic remarks, leaving the footwear giant with $1.2 billion in unsold inventory. Sales in China had also plummeted after Adidas raised concerns over alleged forced labor in the Xinjiang region, allowing local competitors to capture significant market share. Meanwhile, upstart brands like Hoka and On were starting to make serious inroads into the sportswear market. Less than four years later, Adidas is firmly back on track with growing sales, strong profits, and renewed brand visibility across many categories. In March, Adidas’ board extended Gulden’s contract through 2030, citing “tremendous operational and financial progress in a challenging environment.” Gulden believes …