Key Words: Even Adidas is watching Netflix
There’s been some reshuffling in recent months among the ranks of global athletic-shoe makers, with virtually all of the focus on where Adidas, Nike NKE, +3.42% and Under Armour UA, +3.99% stand, particularly in the critical U.S. market.
So it might come as a surprise that at least one top Adidas executive, global creative director Paul Gaudio, is checking an entirely different shoulder for competitive threats, naming, in a recent interview with the magazine Monocle, even the likes of Netflix NFLX, -1.18% as an Adidas ADDYY, +0.46% ADS, +0.42% rival.
‘Anybody that competes for the attention of a young person [is an Adidas rival]. Netflix, Instagram: They’re all out there competing for share of wallet. A kid only has so much money to spend.’
He continued, further elucidating the views that a potential customer for an Adidas shoe is not necessarily comparison shopping that three-striped shoe against one with a swoosh but against a sweeping range of prospective purchases and that demand for athletic shoes and apparel may be driven by something other than need: “We have to give them a reason to spend beyond pure function.”
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