For all you fashion enthusiasts and Adidas fans out there, here’s some news for you’ll. The multinational company is now planning to prioritize online shopping and hence have decided to shut few of its stores.
Kasper Rorsted, Adidas’s chief executive in an interview with a leading daily stated that their website was “the most important store in the world.” The closing down of the stores is likely to take place from next year. Rorsted didn’t give out any specific figures on the number of stores shutting down.
The leading website also reported that the retailer has already launched mobile apps in various countries. The app is available in the United States of America and is soon to expand in Canada and France. Famous brands like Nine West, Claire’s Accessories have already filed for bankruptcy. Other brands like Payless, Rue 21 have also announced closing of their stores.
This entire process of brands rapidly shutting their stores is a result of what many call it as an ongoing, “retail slump.” Where are all the brands headed? And is online market going to eat into the brick and mortar pattern? Comment and let us know what you guys think.