Invested through
  • Triodos Impact Mixed Fund - Defensive
  • Triodos Impact Mixed Fund - Neutral
  • Triodos Impact Mixed Fund - Offensive
  • Triodos Euro Bond Impact Fund
  • Triodos Multi Impact Fund
  • Triodos Impact Strategy Fund - Defensive
  • Triodos Impact Strategy Fund - Balanced
  • Triodos Impact Strategy Fund - Offensive
Asset ClassesImpact bonds
Impact strategyImpact Equities and Bonds
ISIN codeXS2240505268
Industry groupConsumer Durables & Apparel
Aligned with SDGs

Adidas is a well-known producer of sporting goods. In 2019, it sold 448 million pairs of footwear (57% of revenue), 528 million pieces of apparel (38% of revenue) and 127 million pieces of sports hardware (5% of revenue). Footwear has been the fastest growing category (+15% since 2015), followed by apparel (+6%). The sporting goods industry is an established industry, but it still offers good growth prospects. Within the industry, adidas focuses on soccer, basketball, running, outdoor and training. It also sells lifestyle goods (fashion). Key brands are adidas and Reebok. The company is considering its strategic options for Reebok. Reebok contributes 7.5% to total revenue (EUR 1.7 billion). Adidas' roots trace back to 1924, when Adi Dassler started a shoe factory. In 1949, he started adidas. Brother Rudi is the founder of Puma, another well-known sports brand.

Investment rationale

adidas contributes to the transition theme Circular Economy by limiting the dependence on raw materials by increasing the use of recycled materials (34% of total materials used) and increasing the use of (third-party certified) plant-based materials (16% of materials used). For 2025, the company has a target towards 9 out of 10 articles to a significant degree being made with environmentally preferred materials and reducing the carbon footprint per product 15%.