The sum reportedly paid by Nike to lure the German football team away from its historic partner Adidas was "inexplicable", the CEO of the German sportswear giant Bjorn Gulden told AFP in an interview.

Defending the company's decision not to enter into a bidding war with its fierce US rivals, Gulden said the German sport outfitter would continue to go after major kit deals, including the franchise for France, but only if the price is right.

News of the breakup with the German football team came at a bad time for Adidas, which had slumped to its first annual loss in over three decades in 2023.

The German Football Association (DFB) said last month it would end its partnership of over 70 years with Adidas, selecting Nike as its kit provider from 2027.

The DFB said the decision was made in the interests of the domestic game and grassroots football.

But the shock announcement, just a few weeks before Germany is set to host the 2024 European football championships, prompted an outcry from politicians who accused the DFB of a lack of patriotism.

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"Nike won with, by all accounts, a huge offer," said Gulden, referring to reports that the US giant will pay around 100 million Euros ($106.5 million) a year in the deal that runs from 2027 through 2034.

"If the numbers are right for what Nike paid the DFB, they are inexplicable for us," on the back of Adidas's own calculations, the Norwegian CEO said.

International football was not everything, Gulden said, lauding the "advertising impact" made by Adidas's partnerships with clubs like Real Madrid and Bayern Munich.

Demand for national kit or federation merchandising is "much lower than it is for clubs", he added. "We try always to invest where one gets the best advertising impact and can make the highest sales, and we'll continue to do that."

<h2>- Olympic hopefuls -</h2>

In seeking other big kit deals therefore, Adidas will only pay what it deems reasonable, including for France potentially.

"We make offers where we are interested at a price that we believe is the right one," he said, underlining that "over that we won't go there."

Gulden, who took over the reins of Adidas in 2023, also sketched out a plan to shift Adidas' focus from major disciplines like football to a more comprehensive scope.

"As a sports romantic, I want to go back into breadth, into a wider range of sports," said Gulden, a former footballer.

Athletics would be an area, he said, where Adidas would like to gain more visibility.

"For me, it's always about athletics -- the core of every type of sport -- no matter what one does, be it breakdancing or BMX or football or basketball, one must be able to run or jump high," he said.

Already, Adidas was making footwear that would be worn in 41 different events at the Paris Olympics which will start in July, he said.

"I am certain, that in four years' time, besides very few exceptions, we'll have products for every type of sport," added Gulden.

Usain Bolt lit up the track wearing Puma kit, while Gulden was at the helm of Adidas's local rival.

Lightning could strike twice for Gulden, he said, if hotly tipped Adidas athlete Noah Lyles takes the gold in the 100 metres for the US in Paris this summer.

The sum reportedly paid by Nike to lure the German football team away from its historic partner Adidas was "inexplicable", the CEO of the German sportswear giant Bjorn Gulden told AFP in an interview.

The sum reportedly paid by Nike to lure the German football team away from its historic partner Adidas was "inexplicable", the CEO of the German sportswear giant Bjorn Gulden told AFP in an interview. Defending the company's decision not to enter into a bidding war with its fierce US rivals, Gulden said the German sport outfitter would continue to go after major kit deals, including the franchise for France, but only if the price is right. News of the breakup with the German football team came at a bad time for Adidas, which had slumped to its first annual loss in over three decades in 2023. The German Football Association (DFB) said last month it would end its partnership of over 70 years with Adidas, selecting Nike as its kit provider from 2027. The DFB said the decision was made in the interests of the domestic game and grassroots football. But the shock announcement, just a few weeks before Germany is set to host the 2024 European football championships, prompted an outcry from politicians who accused the DFB of a lack of patriotism. ALSO READ: Julian Nagelsmann ends speculations of Bayern Munich return, extends contract with German national team "Nike won with, by all accounts, a huge offer," said Gulden, referring to reports that the US giant will pay around 100 million Euros ($106.5 million) a year in the deal that runs from 2027 through 2034. "If the numbers are right for what Nike paid the DFB, they are inexplicable for us," on the back of Adidas's own calculations, the Norwegian CEO said. International football was not everything, Gulden said, lauding the "advertising impact" made by Adidas's partnerships with clubs like Real Madrid and Bayern Munich. Demand for national kit or federation merchandising is "much lower than it is for clubs", he added. "We try always to invest where one gets the best advertising impact and can make the highest sales, and we'll continue to do that." - Olympic hopefuls - In seeking other big kit deals therefore, Adidas will only pay what it deems reasonable, including for France potentially. "We make offers where we are interested at a price that we believe is the right one," he said, underlining that "over that we won't go there." Gulden, who took over the reins of Adidas in 2023, also sketched out a plan to shift Adidas' focus from major disciplines like football to a more comprehensive scope. "As a sports romantic, I want to go back into breadth, into a wider range of sports," said Gulden, a former footballer. Athletics would be an area, he said, where Adidas would like to gain more visibility. "For me, it's always about athletics -- the core of every type of sport -- no matter what one does, be it breakdancing or BMX or football or basketball, one must be able to run or jump high," he said. Already, Adidas was making footwear that would be worn in 41 different events at the Paris Olympics which will start in July, he said. "I am certain, that in four years' time, besides very few exceptions, we'll have products for every type of sport," added Gulden. Usain Bolt lit up the track wearing Puma kit, while Gulden was at the helm of Adidas's local rival. Lightning could strike twice for Gulden, he said, if hotly tipped Adidas athlete Noah Lyles takes the gold in the 100 metres for the US in Paris this summer.

Nike paid ‘inexplicable’ sum to bag kit deal with Germany, claims Adidas CEO

German sportswear firm Puma is not worried about the possible imminent retirement of Jamaican sprinter Usain Bolt, the highest profile athlete it sponsors, believing Bolt could be just as valuable off the track. 
 
&quot;Usain is part of the Puma family,&quot; chief executive Bjorn Gulden told reporters today. &quot;If he decides not to run, we will probably work even closer with him,&quot; he said, adding Bolt would have more time for product development and could even take on a commercial role at Puma. 
 
Gulden made the comments after Puma reported a stronger-than-expected rise in second quarter sales, helped by the European soccer championships as well as popular women&#39;s products endorsed by singer Rihanna and celebrity Kylie Jenner. 
 
Puma reported a quarterly net profit of 1.6 million Euros ($1.8 million), compared with a loss of 3.3 million a year ago. Sales rose 7 per cent to 827 million Euros, beating analysts&#39; average forecast of 819 million. Bigger rival Adidas is expected to report even stronger growth for the quarter on August 4, with a Thomson Reuters Smart Estimate suggesting a 13 per cent rise in sales. 
 
Puma shares pared earlier gains to trade up 0.3 per cent by 08:50 GMT, while owner Kering rose 2.4 per cent. Adidas, which has been hitting a series of record highs in anticipation of bumper results, was up 1.6 per cent. 
 
Gulden said it was not clear whether the six-time Olympic sprint champion, who has been sponsored by Puma since he was 15 years old, would keep running after the upcoming Rio Olympics, saying Bolt might need time off to think about it. 
 
Gulden said the Jamaican was already helping Puma hunt for a successor, adding the company has a strong scouting operating in the Caribbean, &quot;We have to admit there won&#39;t be a second Usain but there will be something else,&quot; he said. 
 
While Bolt is Puma&#39;s highest profile athlete and the Olympics a major platform for the brand, Gulden said it was hard to measure a direct impact on sales as fans do not buy replica team shirts in the same way they do for sports like soccer. 
 
Quarterly sales grew fastest in the Europe, Middle East and Africa region, up a currency-adjusted 23.5 per cent, boosted by Puma&#39;s sponsorship of five national soccer teams at Euro 2016, including Italy, plus players like top scorer Antoine Griezmann of France and Portugal goal keeper Rui Patricio. 
 
While sales of replica team shirts started already last November, Gulden said he was optimistic of a boost to soccer shoe sales when youngsters fired up by Euro 2016 start back at school. 
 
Gulden said Puma&#39;s partnerships with Rihanna and Jenner were helping it win more space at key retailers, which are all putting more focus on the women&#39;s business because it is growing faster than the men&#39;s. 
 
The firm confirmed it expects sales to grow by a high single-digit percentage this year, with gross profit margin remaining flat from last year&#39;s 45.5 per cent and operating earnings between 115 million and 125 million Euros. 
 
(Reuters) 
&nbsp;

Chief executive Bjorn Gulden said that should Usain retire after Rio, he would have more time for product development

German sportswear firm Puma is not worried about the possible imminent retirement of Jamaican sprinter Usain Bolt, the highest profile athlete it sponsors, believing Bolt could be just as valuable off the track. "Usain is part of the Puma family," chief executive Bjorn Gulden told reporters today. "If he decides not to run, we will probably work even closer with him," he said, adding Bolt would have more time for product development and could even take on a commercial role at Puma. Gulden made the comments after Puma reported a stronger-than-expected rise in second quarter sales, helped by the European soccer championships as well as popular women's products endorsed by singer Rihanna and celebrity Kylie Jenner. Puma reported a quarterly net profit of 1.6 million Euros ($1.8 million), compared with a loss of 3.3 million a year ago. Sales rose 7 per cent to 827 million Euros, beating analysts' average forecast of 819 million. Bigger rival Adidas is expected to report even stronger growth for the quarter on August 4, with a Thomson Reuters Smart Estimate suggesting a 13 per cent rise in sales. Puma shares pared earlier gains to trade up 0.3 per cent by 08:50 GMT, while owner Kering rose 2.4 per cent. Adidas, which has been hitting a series of record highs in anticipation of bumper results, was up 1.6 per cent. Gulden said it was not clear whether the six-time Olympic sprint champion, who has been sponsored by Puma since he was 15 years old, would keep running after the upcoming Rio Olympics, saying Bolt might need time off to think about it. Gulden said the Jamaican was already helping Puma hunt for a successor, adding the company has a strong scouting operating in the Caribbean, "We have to admit there won't be a second Usain but there will be something else," he said. While Bolt is Puma's highest profile athlete and the Olympics a major platform for the brand, Gulden said it was hard to measure a direct impact on sales as fans do not buy replica team shirts in the same way they do for sports like soccer. Quarterly sales grew fastest in the Europe, Middle East and Africa region, up a currency-adjusted 23.5 per cent, boosted by Puma's sponsorship of five national soccer teams at Euro 2016, including Italy, plus players like top scorer Antoine Griezmann of France and Portugal goal keeper Rui Patricio. While sales of replica team shirts started already last November, Gulden said he was optimistic of a boost to soccer shoe sales when youngsters fired up by Euro 2016 start back at school. Gulden said Puma's partnerships with Rihanna and Jenner were helping it win more space at key retailers, which are all putting more focus on the women's business because it is growing faster than the men's. The firm confirmed it expects sales to grow by a high single-digit percentage this year, with gross profit margin remaining flat from last year's 45.5 per cent and operating earnings between 115 million and 125 million Euros. (Reuters)

Puma not worried by Bolt retirement, believes he will be as valuable off track

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Nike paid ‘inexplicable’ sum to bag kit deal with Germany, claims Adidas CEO

Puma not worried by Bolt retirement, believes he will be as valuable off track