Adidas continues to climb toward sustainability goals with new collaboration
In February 2022, Adidas Group (Adidas) unveiled its first product stemming from its partnership with Spinnova, a Finnish textile material company. The Adidas TERRAX hoodie is made partially from wood-based fibers as the company explores more sustainable solutions. Adidas is committed to helping end plastic waste through its three-loop strategy, which consists of recycled materials, materials that can be remade into new products, and products created with natural materials (i.e., the adidas TERRAX Hoodie). Adidas' goal by 2025 is to ensure that nine out of ten articles will use more sustainable technology, material, design, or method of manufacturing and this collaboration is the next step toward that goal.
Balance Sheet|ESGIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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