Latest news with #AdidasAG
Forbes
3 days ago
- Business
- Forbes
Adidas Admits Data Breach Following Third-Party Attack
Adidas shoes in store window. Adidas AG is a German sports apparel manufacturer and parent company ... More of the Adidas Group. Adidas is once again in the cybersecurity spotlight. This time the breach came through a side door. Attackers infiltrated a third-party customer service provider and accessed the contact information of Adidas customers, as reported by Bleeping Computer. This incident highlights a growing trend: hackers are increasingly targeting vendors to bypass the more robust defenses of global brands. Adidas confirmed that names, email addresses and phone numbers of customers who contacted support were exposed. No payment or password data was compromised, but the information is a potential goldmine for phishing and social engineering attempts. The company has begun notifying affected users and has reported the breach to data protection regulators and law enforcement, as required by law. This is not Adidas' first data security incident. In 2018, the company suffered a breach affecting millions of U.S. customers. Adidas disclosed separate incidents in Turkey and South Korea, both involving third-party customer service providers and exposing similar personal data. Cybercriminals have shifted tactics. Instead of attacking a company's main network, they look for poorly guarded side doors. Third-party vendors often lack the robust security measures of the companies they serve, making them attractive targets. Key factors fueling this trend include: Verizon's 2025 Data Breach Investigations Report found that 30 percent of breaches last year involved external service providers, raising ongoing concerns around vendor risk management and security oversight. Forward-thinking retailers are adopting new strategies to reduce third-party risk. Consider these best practices: The Adidas breach is not an isolated event. It is a warning for the entire retail sector. As hackers become more sophisticated, companies must treat third-party risk as a top priority, not just a compliance issue. Key takeaways for business leaders: For businesses, remember that your security is only as strong as your weakest partner. The companies that thrive will be those that treat every link in their supply chain as a potential point of failure and act accordingly.
Bloomberg
23-05-2025
- Business
- Bloomberg
Adidas Says Consumer Data Stolen From External Service Provider
Adidas AG said consumer data was stolen from a third-party customer service provider and that it's informing potentially affected people and law-enforcement authorities. The breach mainly consisted of contact information relating to consumers who had contacted the German company's customer service help desk in the past, Adidas said in a statement on its website. The data didn't contain passwords, credit cards or any other payment-related information, the company said.
Business of Fashion
29-04-2025
- Business
- Business of Fashion
Adidas Says Trump Tariffs ‘Put a Stop' to Boost in Targets
Adidas AG held off from boosting its financial guidance for the year on concern over US tariffs, which will raise prices in the world's biggest sports market and could upend the German brand's momentum. Ordinarily, Adidas would have lifted its outlook for the year after generating better-than-expected first-quarter profits, it said Tuesday. But uncertainty around US President Donald Trump's tariffs 'put a stop to this,' Adidas said. Higher tariffs will eventually cause price increases in the US, 'but it is currently impossible to quantify these or to conclude what impact this could have on the consumer demand for our products,' Chief Executive Bjoern Gulden said in a statement. Adidas shares were little changed in early German trading, and are down 8.2 percent this year, a better performance than rivals Nike Inc. and Puma SE. Adidas is still benefiting from a two-year hot streak for classic sneaker models like the Samba and Gazelle, which fuelled the surprisingly robust earnings the company reported last week. Gulden has said that buzz is helping Adidas pull in new customers for apparel and performance sports gear and take market share from industry leader Nike. The company is also trying to extend the trend into other sneaker models, including the thin-soled Tokyo and Taekwondo. Investors are assessing whether the German brand can keep up the momentum in the face of US tariffs and growing economic uncertainty. Questions include if its wholesale partners, especially in the US, are trimming their orders at all and if the retro shoe craze is showing signs of cooling. Adidas's first-quarter sales exceeded analyst estimates in every market except North America, where it faced the largest impact of the phasing out of the Yeezy business from the defunct partnership with the rapper Ye, Piral Dadhania, an analyst at RBC Capital Markets, said in a note. 'Adidas is executing well in a tough consumer environment and delivering amongst the highest revenue and earnings growth across our coverage,' Dadhania said. While Adidas doesn't ship many shoes or apparel from China to the US, it's heavily reliant on production in countries like Vietnam and Indonesia, which received high tariffs in Trump's original announcement. Those levies have since been paused while the US negotiates with countries over trade. Adidas 'currently cannot produce almost any of our products in the US,' it said. Still, it's trying 'to assure that our US retail partners, and our US consumers will get the Adidas product they want and to the best possible price.' In March, Adidas said it expected to generate operating profit of €1.7 billion ($1.94 billion) to €1.8 billion this year — an outlook that disappointed investors at the time. It also forecast currency-neutral sales to grow at a high-single-digit rate. The trade war has clouded the view. 'We therefore stick to our original outlook but admit that there are uncertainties that could put negative pressure on this later in the year,' Gulden said. By Tim Loh Learn more: Exclusive: Inside Adidas' Running Strategy The company's new supershoe for elite runners, the Adizero Adios Pro Evo 2, has arrived, and with a revamped running portfolio, Adidas aims to get more casual runners in its sneakers, too.
Hindustan Times
29-04-2025
- Business
- Hindustan Times
Trump tariff impact: Adidas freezes 2025 outlook despite strong first quarter
Adidas AG has opted not to raise its financial targets for 2025, even after posting stronger-than-expected first-quarter profits, due to the rising concerns over US President Donald Trump-imposed trade tariffs. The tariffs imposed by the United States will raise prices on consumers in the world's biggest sports market and could upend the German brand's momentum. 'Cost increases due to higher tariffs will eventually cause price increases, not only in our sector, but it is currently impossible to quantify these or to conclude what impact this could have on the consumer demand for our products,' Chief Executive Bjoern Gulden said in the statement, which expanded on last week's preliminary report of surprisingly robust earnings. Also Read | China's foreign minister warns against appeasing US 'bully' amid Trump tariff threats The German sportswear giant acknowledged that under normal circumstances, it would have upgraded its full-year outlook given the solid start to the year. 'We therefore stick to our original outlook but admit that there are uncertainties that could put negative pressure on this later in the year,' he said. Also Read | 2 Atlantic reporters got a 'butt dial' from Trump after he turned down their interview. Here's what happened next Unexpectedly high US import levies on Southeast Asian countries such as Vietnam and Indonesia, now paused until July, have blindsided sportswear makers, which had relied on supplies from those countries to mitigate the impact of US tariffs on goods from China. In March, Adidas said it expects to generate operating profit of €1.7 billion to €1.8 billion this year, which disappointed investors. It also forecast currency-neutral sales to grow at a high-single-digit rate. Also Read | Mark Carney's 1st reaction after Canada election win: 'Trump trying to break us' Adidas is still benefiting from its two-year hot streak for classic sneaker models including the Samba and Gazelle, which helped it take market share from industry leader Nike Inc. Gulden has projected confidence that the buzz is helping Adidas pull in new customers for apparel and performance sports gear. Meanwhile, the company is trying to extend the trend into other sneaker models, including the thin-soled Tokyo and Taekwondo. (with Bloomberg inputs)
Bloomberg
29-04-2025
- Business
- Bloomberg
Adidas Says Trump Tariffs ‘Put a Stop' to Boost in Targets
Adidas AG refrained from raising its financial targets for the year because of the concern around US tariffs, which will raise prices on consumers in the world's biggest sports market and could upend the German brand's momentum. Ordinarily, Adidas would have raised its outlook for the year after generating better-than-expected first-quarter profits, it said in a statement Tuesday. But President Donald Trump's tariffs — and the uncertainty around what levels they will ultimately reach — 'put a stop to this,' Adidas said.
