In 2023, Adidas Ukraine will significantly improve its financial results

21 January 2024

As of the beginning of 2024, the Adidas brand is represented in Ukraine by 39 stores and its own online store.

The Adidas Ukraine company - the local representative office of the Adidas group in Ukraine - was established back in 1996 as a local distributor of the group's products in Ukraine. Since then, the company has been developing the brand's business in Ukraine, and today it is represented by 39 offline stores and an online store. The company also carries out wholesale trade in goods.

The total number of Adidas employees in Ukraine during 2022 decreased from 674 to 483 people, the turnover of Adidas Ukraine decreased from UAH 1.6 billion in 2021 to UAH 602 million, and the net loss made UAH 84 million (after a net profit of UAH 96 million in 2021).

Adidas Ukraine revenue 2022

In 2023, as with many other retail brands present on the Ukrainian market, the situation improved significantly. In the first nine months of the year, the company's turnover increased significantly compared to the previous year (in fact, due to the low base of comparison, it almost tripled), so we can expect that for the whole of 2023, the turnover will be close to the figure of 2021).

Adidas Group's total revenue for the first nine months of 2023 was 16.6 billion euros, down 4% compared to the corresponding period of the previous year, and the group's net profit was 345 million euros (1.1 billion euros for the first nine months of 2022).