German sportswear giant Adidas has reported record quarterly revenue of €6.63 billion (~$7.69 billion) in the third quarter (Q3) of 2025—the highest in the company’s history. The milestone was fuelled by robust brand performance and a 12 per cent rise in currency-neutral sales, supported by double-digit growth across all markets and improved profitability despite challenges from currency fluctuations and tariffs.

The strong Q3 performance was powered by double-digit increases across all key regions and categories. Footwear revenues rose 11 per cent, led by significant gains in Running, Football, Training, and Specialist Sports.

Germany’s Adidas has reported record revenue of €6.63 billion (~$7.69 billion) in Q3 2025, the highest in its history, as brand sales rose 12 per cent on a currency-neutral basis.
Growth was broad-based across all regions and categories, with footwear and apparel driving strong gains.
Despite currency and tariff headwinds, profitability improved, with operating profit rising 23 per cent.

Apparel sales surged 16 per cent, fuelled by momentum in Originals, Football, and Running, supported by differentiated and locally relevant collections. Accessories posted a 1 per cent increase.

Performance categories grew 17 per cent, led by strong traction in Running and Football. The brand’s lifestyle business also expanded by 10 per cent, driven by enduring demand for its Terrace franchises, collaborations with Wales Bonner, Oasis, Edison Chen, and market-specific activations, Adidas said in a press release.

Region-wise, revenues for the Adidas brand grew 12 per cent in Europe, 10 per cent in Greater China, 13 per cent in Emerging Markets, 21 per cent in Latin America, 11 per cent in Japan/South Korea, and 8 per cent in North America. Growth was consistent across all channels, with wholesale sales up 10 per cent, own retail up 13 per cent, and e-commerce surging 15 per cent—building on more than 25 per cent growth in the same quarter last year.

Adidas improved its gross margin by 0.5 percentage points to 51.8 per cent, supported by lower product and freight costs, a favourable business mix, and strong sell-throughs that offset the impact of adverse currency movements and higher US tariffs. Operating profit climbed 23 per cent to €736 million, delivering an operating margin of 11.1 per cent compared to 9.3 per cent a year ago.

Net income from continuing operations rose 3 per cent to €482 million, despite hyperinflation-related effects that weighed on the financial result. Marketing and point-of-sale expenses increased 10 per cent to €798 million, reflecting continued investments in global campaigns and new partnerships such as Liverpool FC and the future Audi Formula 1 team.

“I am extremely proud of what our teams achieved in the third quarter with actually record revenues. Twelve per cent growth for the adidas brand leading to total revenue of €6.63 billion is the highest we have ever achieved as a company in a quarter. I am especially happy to see that our performance business is growing strongly across categories and in all regions,” said Bjorn Gulden CEO at Adidas. “2025 is already a success for us. Fourteen per cent growth for the Adidas brand year-to-date and an EBIT margin above 10 per cent proves how strong our brand is. Empowering our local markets to win their consumers is the right strategy for global success.”

In the first nine months (9M) of 2025, Adidas brand revenues grew 14 per cent on a currency-neutral basis, or more than €2.2 billion in absolute terms, despite the absence of Yeezy revenues which had contributed over €550 million in 2024. In euro terms, sales reached €18.74 billion, up 6 per cent year-over-year (YoY).

Footwear and apparel sales each rose 14 per cent in 9M, driven by strong gains in Originals, Sportswear, Running, and Training. Double-digit growth was recorded across all regions—Europe (+11 per cent), North America (+12 per cent), Greater China (+12 per cent), Latin America (+24 per cent), Emerging Markets (+17 per cent), and Japan/South Korea (+14 per cent).

The gross margin improved 0.8 percentage points to 51.9 per cent, while operating profit surged 48 per cent to €1.89 billion, representing an operating margin of 10.1 per cent. Net income climbed 52 per cent to €1.29 billion, highlighting the brand’s strong recovery and efficiency gains across its operations.

Inventories increased 21 per cent YoY to €5.47 billion, reflecting support for planned top-line growth, earlier product purchases for World Cup-related launches, and faster inbound deliveries. Operating working capital rose to €6.18 billion, or 21.9 per cent of sales. Cash and cash equivalents stood at €1.03 billion, while adjusted net borrowings increased to €4.79 billion, leading to a leverage ratio of 1.6x, an improvement from 2.1x last year, added the release.

Moreover, Adidas has raised its full-year 2025 guidance. The company now expects overall revenues to grow by around 9 per cent (previously projected at a high-single-digit rate) and operating profit to reach approximately €2 billion, up from the prior range of €1.7–1.8 billion.

“The focus is now on transitioning well into 2026, which will be another exciting sports year with the Winter Olympics and the biggest Football World Cup ever. Adidas connects sport and street culture, and we see global demand for all these segments continuing to grow. That is why we look positive into the future,” added Gulden.

Fibre2Fashion News Desk (SG)

Standard Chartered Bank has upgraded Vietnam’s growth outlook, projecting GDP to expand by 7.5 per cent in 2025 (previously 6.1 per cent) and 7.2 per cent in 2026 (previously 6.2 per cent). Inflation expectations have been slightly adjusted to 3.4 per cent for 2025 and 3.7 per cent for 2026, supported by solid economic momentum and easing price pressures.

In September 2025, exports totalled $42.7 billion, up 24.7 per cent year-on-year (YoY), while imports increased 24.9 per cent to $39.8 billion. Vietnam continues to strengthen its position in global supply chains, driven by strong trade activity and participation in multiple free trade agreements (FTAs), said Vietnamese media reports citing Standard Chartered Bank’s latest macroeconomic update on Vietnam.

Credit growth surged beyond 15 per cent YoY. Meanwhile, disbursed Foreign direct investment (FDI) climbed 8.5 per cent YoY to $18.8 billion and pledged FDI rising 15.2 per cent to $28.5 billion during the first nine months of 2025.

Standard Chartered has lifted Vietnam’s 2025 GDP growth forecast to 7.5 per cent (from 6.1 per cent) and 2026 to 7.2 per cent (from 6.2 per cent), citing strong momentum and easing inflation.
Exports surged 24.7 per cent YoY in September 2025, while FDI and credit growth also strengthened.
The bank highlighted Vietnam’s growing role in global supply chains and resilient economic performance.

“Vietnam’s resilience and adaptability are evidenced by its successful attraction of strong FDI and robust export growth, solidifying its strategic role in global supply chain diversification and pointing to strong prospects for continued economic expansion,” said Tim Leelahaphan, senior economist for Vietnam and Thailand at Standard Chartered Bank.

Fibre2Fashion News Desk (SG)

Authentic Brands Group’s Juicy Couture business is upping its game in denim as of this month with the launch of its new denim collection.

Debuting globally on 17 November, it’s described as “a bold evolution for the cult label that defined a generation of Y2K glamour. Two decades after the world fell in love with Juicy’s velour tracksuits, the LA-born brand expands its reign with a collection that reimagines its signature confidence and playfulness in a new lens: denim”. 

The company said the day-to-night collection blends “LA attitude with contemporary style” and “celebrates individuality through flattering, feminine silhouettes and elevated detailing”. 

It takes in low-rise flares “with unapologetic early-aughts energy” to wide-leg jeans designed with “serious main-character appeal”.

Key pieces include the Diamanté Booty Short, Diamanté Wide Leg, Dog Crest Bootcut Jean, Dog Crest Skirt, JC Crest Flare Jean, JC Crest Pleat Skirt, and Midrise Bootcut Jean.

They use “premium” cotton denim and are finished with signature Juicy detailing such as embroidered logos, crystal trims and classic hardware. 

The company also said the supporting campaign “embodies a new kind of Juicy girl, bold, empowered and effortlessly sexy”.

Authentic has been very busy on the Juicy Couture front in the last 12 months. In December last year it made a London store comeback at Westfield and in March this year it struck a deal to enter India. It’s also been boosting its beauty business and only last month it tapped two-time WNBA All-Star and cultural icon Angel Reese as its new global ambassador and creative collaborator.