Sportswear retailers Adidas and Nike have been named among the five companies ranked as Elite retailers in the Global Elite Top1000 report.
Adidas rose from being a Leading retailer in the RetailX Global Elite 250 ranking last year, however, it’s “strong positioning in the sustainability metrics, being one of the global leaders in this area, has helped to elevate the brand, according to the report.
Rival brand Nike also rose from being a Leading retailer in 2022 to becoming an Elite retailer this year.
The ranking has been attributed to the brand’s product range, which covers professional sports as well as lifestyle footwear and clothing, and its omnichannel model, allowing the company to trade via its stores, digital channels and via retail partners.
Find out which other retailers have been ranked as Elite retailer in the RetailX Global Elite Top1000
The report also stated the company is steering away from a wholesale model of retail, increasingly embracing a direct-to-consumer (DTC) model.
This comes as the brand attributed 84% of sales in 2011 to wholesale customers, which dropped to 61% with DTC sales accounting for the remaining 39%.
By 2025, the brand aims for 60% of its sales to come from its stores and digital channels, with the latter accounting for 50%.
“Nike is in a position where consumer demand for its products remains high and this is driving ‘strong business momentum in a dynamic environment’,” the RetailX Global Elite Top1000 stated.
“The business is on track to deliver on its operational and financial goals in 2023 and these will set the foundation for sustainable, profitable growth.”
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