Adidas to raise prices as US tariffs costs rise by €200m
Adidas, the German sportswear company, has announced that it will be raising prices due to the increasing costs of US tariffs. The company sources the majority of its products from Vietnam and Indonesia, and the tariffs imposed by the US on imports from these countries have resulted in an additional cost of €200 million for Adidas. The price hike will be implemented across Adidas' product range, including footwear, apparel, and accessories. The company has stated that it is necessary to offset the impact of the tariffs and maintain its profit margins. Adidas is not the only company facing the challenges of rising tariff costs. Many other global brands have also been affected by the ongoing trade tensions between the US and its trading partners. The decision to raise prices is a common strategy adopted by companies to mitigate the financial burden of increased tariffs.
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