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David, Luís Pedro Figueiredo. "Equity Research - Adidas AG." Master's thesis, Instituto Superior de Economia e Gestão, 2017. http://hdl.handle.net/10400.5/13070.
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Mestrado em FinançasEste relatório contém a avaliação da Adidas AG. Elaborado de acordo com a Dissertação de Trabalho Final do Programa de Mestrado em Finanças do ISEG, este estudo de avaliação segue as recomendações do CFA Institute. As informações aqui contidas foram compiladas a partir de fontes públicas sobre Adidas AG em 10 de abril de 2015. Dito isto, o relatório não leva em consideração quaisquer eventos ou circunstâncias que tenham surgido após esta data. O preço-alvo foi obtido combinando o "Discounted Cash Flow" (DCF) e o "Comparable Company Multiple Pricing" com pesos iguais. As premissas consideradas para este estudo foram formuladas usando tanto os dados históricos divulgados publicamente pela empresa, bem como de bases de dados, como a Bloomberg L.P. e a Thomson Reuters DataStream. Com um preço alvo de €142 e um potencial de valorização de 83,9% face ao atual preço, a recomendação para a Adidas AG é de "COMPRA".
This report contains the valuation of Adidas AG. Elaborated in accordance with ISEG's Finance Final Work Thesis, this Equity Research follows the format of a research report recommended by the CFA Institute. The information contained herein has been compiled from public sources on Adidas AG on April 10th, 2015. Hence, the report does not take into consideration any events or circumstances which have arisen after this date. The target price was obtained by combining the Discounted Cash Flow (DCF) and the Comparable Company Multiple Pricing with equal weights. The assumptions considered for this study were formulated using both the historical data publicly disclosed by the company, as well as data from several sources, such as Bloomberg L.P. and Thomson Reuters DataStream. With a target price of €142 and an upside potential of 83.9% from current stock price, I issue a BUY recommendation for Adidas AG.
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Silva, Eduardo Figueiredo Faria da. "Equity research - Adidas AG." Master's thesis, Instituto Superior de Economia e Gestão, 2019. http://hdl.handle.net/10400.5/19245.
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Mestrado em FinançasEste relatório centra-se na avaliação da Adidas AG, que foi elaborado de acordo com o Trabalho Final de Mestrado do Master in Finance. Este Equity Research segue a estrutura de um reporte de research recomendado pelo CFA Institute. Esta nota de research foi preparada com base na informação pública disponibilizada pela Adidas com referência a 31 de Dezembro de 2018. Assim, este reporte não comtempla eventos que possam ter ocorrido após essa data. Para chegar ao preço alvo para a empresa, o método escolhido foi o Discounted Cash Flow e a Avaliação Relativa, através de múltiplos de empresas concorrentes. O Price target obtido foi de 284.61€. Esta avaliação resulta numa recomendação de Manter. É considerada de risco médio uma vez que apesar da Adidas ser uma das duas grandes empresas desta indústria, o desaceleramento da economia surge como um potencial risco.
This report is about a valuation of Adidas AG, elaborated in according with ISEG's Finance Master's Final Work. This Equity Research follows the structure of a research report recommend by the CFA Institute. The research note was prepared based on the information publicly disclosed by Adidas AG with reference to December 31st, 2018. Therefore, this report does not contemplate any events that may have occurred after this date. To obtain the Target price of the company, the method chosen was the Discounted Cash Flow (DCF) and the Relative Valuation through the multiples of peer companies. The price target reached was 284.61€. This valuation results in a Hold recommendation. It is considered of medium risk since, despite Adidas being one of the two big companies in this industry, the deceleration of the economy appears as a potential risk.
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Frade, Daniel Vinicio Morais. "Equity research - Adidas AG." Master's thesis, Instituto Superior de Economia e Gestão, 2018. http://hdl.handle.net/10400.5/20429.
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Mestrado em FinançasO projeto presente foi realizado de acordo com o projeto de trabalho final do programa de Mestrado de Finanças do ISEG, o mesmo constitui uma representação extensiva da avaliação da Adidas AG. Tendo como base as recomendações do CFA Institute. O motivo que estimulou a escolha da Adidas deveu-se ao interesse no recente crescimento considerável da marca, sendo nos últimos 3 anos o seu preço por ação quadruplicou. Este relatório foi feito tendo em conta a informação pública disponível a 1 de Outubro de 2018, pelo que qualquer informação posterior não foi considerada. O preço por ação definido como alvo através deste projeto para a Adidas é de €266,61 a 1 de Outubro de 2018, sendo expectável que a empresa alcance este valor até ao final de 2019. O valor alcançado teve por base o método de Fluxos de Caixa Descontados, a recomendação deste projeto é de compra dado que o valor apresentado representa um potencial de valorização de 30,07% um valor que embora seja inferior ao aumento registado nos anos passados, continua a ser um valor atrativo.
This project was done with the goal to obtain an extensive evaluation of Adidas AG, having into consideration the recommendations of the CFA Institute, made according to ISEG's Master in Finance final work project. The reason behind the decision to choose Adidas was due to my curiosity about the brand recent growth acceleration and how its share value quadruplicated in 3 years. This report was written having into consideration the information available until 1th October, 2018, disregarding any information following this date. The procedure used to reach the target price was the Discounted Cash Flow method, achieving a target price of €266,61 at 1st of October, 2018 representing an upside potential of 30,07%. My recommendation is to Buy, the momentum growth of Adidas is still on growing even though not as strong as in the past years it is still a reliable investment.
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Varela, Afonso Girão. "Equity research - Adidas AG." Master's thesis, Instituto Superior de Economia e Gestão, 2020. http://hdl.handle.net/10400.5/20811.
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Mestrado em FinançasEste relatório consiste numa avaliação do preço por ação da Adidas AG para o final de 2020FY, de acordo com o projeto final do Mestrado em Finanças do ISEG. Este relatório tem por base pressupostos que considero aceitáveis para o período até 2024FY, sendo que as projeções foram baseadas na performance recente da Adidas, desenvolvimento da industria de desporto, assim como o desenvolvimento da economia mundial. O relatório está apresentado de acordo com o formato recomendado pelo CFA Institute. O preço-alvo foi obtido através aplicação do método de avaliação absoluto do Discounted Cash Flow, assim como um método de avaliação relativa, denominado método dos Múltiplos de Mercado. Para este método foram utilizados os múltiplos EV/EBITDA, P/E Ratio e EV/SALES. A recomendação final a que se chegou para a Adidas AG é de REDUCE, com um preço alvo de 279,08 euros que representa um potencial de valorização de 0,97 %, face ao preço atual de 276,40 euros por ação, no dia 16 Novembro de 2020. Este valor foi obtido através da aplicação de uma média dos preços alvo obtidos através do método DCF e do método de avaliação relativa. Considerámos que a empresa possui risco médio visto que, apesar da Adidas já ser uma empresa estabelecida no mercado, está bastante dependente da evolução da economia mundial.
This report consists of an assessment of the price per share of Adidas AG for the end of 2020, according to the ISEG's Master's in Finance final work. This report is based on assumptions that I consider acceptable for the period until 2024FY, with projections being based on Adidas' recent performance, the development of the sporting goods industry as well as the development of the world economy. The report is presented in accordance with the format recommended by the CFA Institute. The target price was obtained by applying a Discounted Cash Flow absolute valuation method, as well as a Relative Valuation method, denominated Market Multiples approach. For this method the EV/EBITDA, P/E Ratio and EV/SALES were used. The final recommendation reached for Adidas AG is REDUCE, with a target price of 279,08 euros which represents an upside potential valuation of 0,97%, compared to the current market price of 276,40 euros per share on 16th November 2020. This value was obtained by applying a simple average of the price targets obtained through the DCF method and Relative Valuation. We considered that the company has medium risk, since although Adidas is already an established company in the market, it is always heavily dependent on the evolution of the world economy.
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Göbel, Carsten. "Valoración de Adidas Group." Master's thesis, Universidad del Pacífico, 2015. http://hdl.handle.net/11354/1030.
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En este trabajo se realiza la valoración del Grupo Adidas (en adelante: Adidas o la empresa), empresa líder en producción y venta de productos deportivos, utilizando diversos modelos de valoración. Se considera el análisis de los factores macroeconómicos, la industria y competencia, la situación financiera y la estrategia de la empresa. Asimismo, se describen las expectativas de crecimiento y los supuestos en la aplicación de los métodos de valoración para llegar a un valor por acción de la empresa.
Se realizaron valorizaciones a través de los siguientes métodos: descuento de los flujos de caja libre (FCFF), descuento de los dividendos y valoración por múltiplos (PER, EV/Ventas, EV/EBIT, EV/EBITDA). Los resultados de los métodos de valoración mencionados se presentan en el gráfico 1.
El valor por acción es de EUR 83,72, monto obtenido por el modelo de descuento de los flujos de caja libre a la empresa; se considera el valor apropiado en el momento de la valoración. El precio de la acción de Adidas, al 25 de octubre, es de EUR 81,41, ligeramente más bajo que el valor calculado por el modelo principal de valoración (EUR 83,72). El buen gobierno corporativo, la fortaleza financiera de la empresa, el valor de la marca y el alineamiento de la estrategia para lograr las metas propuestas avalan que el modelo de negocio de la empresa puede generar valor a los accionistas en el futuro.
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Šimánková, Klára. "Image a identita značky adidas." Master's thesis, Vysoká škola ekonomická v Praze, 2013. http://www.nusl.cz/ntk/nusl-193699.
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The master thesis deals with brand image and identity, the difference between brand perception from the customer point of view and from the creator point of view. The thesis is divided into theoretical and practical part. In the frame of theoretical part there is a brand definition, its components, functions which are the most important part of brand building since it is necessary to see the advantages of brands. This master thesis looks in details on brand value and models for measuring brand value. The practical part deals with market research through questionnaire, which is a base for evaluating image of the adidas brand. On the basis of the survey results the recommendations are made at the very end of the thesis.
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Bellotto, Marco <1995>. "Adidas and its reshoring project." Master's Degree Thesis, Università Ca' Foscari Venezia, 2020. http://hdl.handle.net/10579/17727.
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L'elaborato analizza le dinamiche legate al progetto di reshoring di adidas, analizzandone potenizalità e criticità. Successivamente verranno discusse le cause che hanno portato al suo abbandono e a un ritorno in Cina. Infine si cercherà di contestualizzare queste dinamiche associandole a quelle legate all'impatto del coronavirus sul settore fashion.
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Laštovičková, Zdeňka. "Sponzoring ve společnosti adidas ČR s.r.o." Master's thesis, Vysoká škola ekonomická v Praze, 2011. http://www.nusl.cz/ntk/nusl-165305.
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The diploma thesis deals with the sponsorship strategy of the company adidas from local as well as global perspective. The aim of this thesis is to evaluate the sponsorship strategy of the company adidas and suggest possible changes and suitable measures how to make the sponsorship strategy of the company adidas ČR s.r.o more profitable and effective. The work is divided into four chapters. The first part of the thesis is devoted to the theoretical definition of sponsorship and its goals, advantages, forms and types. Second chapter introduces the company adidas AG. The another part of the work is focused on the sponsorship strategy of the company adidas AG and adidas ČR s.r.o. The work analyzes the sponzored portfolio of sport teams, individuals and events. The last part of the thesis verifies discovered results via questionnaire survey. Based on these outcomes recommendations and changes are suggested to the sponsorship strategy of the company adidas ČR s.r.o.
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Dolejší, Kateřina. "Komparace dvou systémů prodeje společnosti adidas ČR s.r.o." Master's thesis, Vysoká škola ekonomická v Praze, 2011. http://www.nusl.cz/ntk/nusl-85326.
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The primary aim of the diploma thesis is to evaluate the pros and cons of two types of sales systems at adidas ČR, i.e. the franchise stores and own adidas Concept Stores. On the basis of an analysis of the compared sales systems, the thesis suggests improvement measures for both systems and provides recommendations for similar types of retail formats. The thesis should make clear the issue of running a franchised business as compared to running an own retail shop of adidas ČR s.r.o. by introducing both sales systems. The theoretical part is based on a search of both Czech and world professional literature, it deals with the basic retailing and franchising terms, the forms of cooperation in retailing, and an assessment of the current market development. The practical part studies the two aforesaid sales systems at adidas ČR s.r.o.
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Kofrová, Michaela. "Analýza komunikace firmy adidas na sociálních sítích." Master's thesis, Vysoká škola ekonomická v Praze, 2013. http://www.nusl.cz/ntk/nusl-192494.
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The Master's thesis focuses on adidas ČR, s.r.o. and its communication on social media. The aim of this thesis is to analyze communication of adidas Company on social media and to recommend proposals for improvement and how to be more effective. The thesis is divided into two parts. First theoretical part defines social media and its position in marketing strategies of companies. In the analytical part is provided analysis of competition and its communication's strategies on social media and comparison with adidas Company. Benefits of this thesis are proposals of improvement for communication of adidas Company on social media and recommendation to the future.
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Berntson, Annie, Christina Jarnemo, and Minna Philipson. "Branding and Gender : - How adidas communicate gender values." Thesis, Karlstad University, Faculty of Economic Sciences, Communication and IT, 2006. http://urn.kb.se/resolve?urn=urn:nbn:se:kau:diva-309.
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This thesis discusses how adidas differentiate their communication to reach women and make the adidas brand more appealing to females. The adidas brand has always had their main focus on sportswear for men. This has led to the brand being perceived as masculine and it makes it hard for the female consumer to identify with adidas. We have analysed six adidas adverts from the last five years to see what adidas have communicated to women. The main purpose of this thesis is to understand why adidas have not succeeded in communicating with women in the last five years.
The theoretical chapter is divided into three parts; Brands, Communication and Consumer Behaviour. The first part describes what a brand is, how it is built and continues with how a brand can be gendered. A brand is not very likely to keep a strong position if the values connected with the brand are not reinforced through communication. When forming a communication strategy, companies have to understand how consumers behave. When selling a gendered product, companies have to understand the distinction between men and women and how they differ in consumption.
Our discussion is based on the qualitative method of collecting data. The qualitative method was carried out through two panel interviews and one personal interview, and we also performed picture analysis on adidas’ advertisements. Ten open-individual interviews with ten different women were conducted; to get their opinions on the six adverts.
Adidas have presented five different identities over five years, each with diverse focus and with different brand associations. This has led to a lack of consistency and therein lies a part of the reason why adidas have not been successful in appealing to women.
Since 2005 adidas have a collaboration with Stella McCartney. This is an attempt to add design to adidas functional clothes and to make their brand more appealing to women. This collaboration will continue until 2010 and this could provide adidas with the uniformity they need.
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Cheung, Kevin, and Morgan Scotte. "Mergers and Acquisitions : Trenden som träffat sportbranschen och Adidas." Thesis, Södertörns högskola, Institutionen för samhällsvetenskaper, 2013. http://urn.kb.se/resolve?urn=urn:nbn:se:sh:diva-19203.
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Syfte: Syftet med denna uppsats är att ta reda på om det var rätt eller fel av Adidas att genomföra sina M&A:s med hjälp av Tobins q och de bakomliggande strategiska motiven. Metod: Metodansatsen för den studien är en fallstudie. Data har samlats in via både kvantitativa och kvalitativa metoder. Vi har valt att undersöka fyra av Adidas nio olika M&A:s sedan mitten av 1990-talet. Datan har samlats in genom ett deduktivt angreppssätt. Den kvantitativa datan har samlats in via årsredovisningar och affärsdatabaser. Den kvalitativa datan genom semistrukturerade intervjuer och officiella pressmeddelanden. Resultat och slutsatser: I denna fallstudie av Adidas har vi kommit fram till att två av de fyra företagen som undersöktes var övervärderade och de två andra var undervärderade i samband med uppköpen enligt Tobins q modellen. I detta avseende borde Adidas inte ha köpt de övervärderade företagen. Vi har kommit fram till att det var fel av Adidas att köpa Salomon, medan de övriga tre förvärven var berättigade. Det mest centrala motivet som genomsyrade alla affärerna var tillväxt, skillnaden var på vilket sätt detta skulle uppnås. Bland annat sökte de kompetensen, stärka sin befintliga verksamhet och diversifiera sig. Vi har i våra slutsatser kommit fram till att det var berättigat av Adidas att genomföra dessa affärer eftersom det har hjälpt dem att ta sig till den position som de befinner sig på idag – nämligen en av de mest dominerande aktörerna inom branschen.Aim: The purpose of this essay is to examine whether it was right or wrong of Adidas to complete their M&A:s using Tobin’s q and the underlying strategic motives. Method: The method for this is essay is a case study. Data has been collected through both a quantitative a qualitative method. We have chosen to examine four of Adidas nine M&A:s since the mid-1990s. The data has been collected through a deductive approach. The quantitative data has been gathered via annual reports and business databases and the qualitative data through semi structured interviews and official press releases. Results and conclusions: We have in this case study concluded that two of the four companies, which we examined, were overvalued and the other two were undervalued in connection with the acquisitions according to Tobin’s q. Regarding to this Adidas shouldn’t have bought the overvalued companies. We concluded that it was wrong of Adidas to buy Salomon, while the other three M&A:s where entitled. The most central aspect of the motives behind the acquisition was growth. The difference between the affairs was the way to achieve this. Among others were to search for competence, enhance its current business and to diversify themselves. However we have concluded that Adidas were entitled to go through with the affairs since it has helped them to get where they are today – as one of few dominant companies in the industry.
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Quiroga, Persivale Guillermo. "Reinventarse: la fórmula para Adidas, Federer, Lego y otros." PERU ECONOMICO S.A, 2015. http://hdl.handle.net/10757/624190.
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Explica que no hay empresa madura, sólo negocios maduros, y que la innovación estratégica es reinventarse. No obstante, esta tarea no es fácil, sino complejo por dos razones: la primera es tener la idea innovadora o diferente para transformar el negocio actual, que se está agotando, y lo más probable es que inicie, más temprano que tarde, el camino a la extinción, y el segundo motivo se explica a partir de lo arraigado de nuestros modelos mentales. En esta situación, la exitosa experiencia juega en contra, no ayuda a estar tan anclados a las glorias pasadas. Es difícil deshacerse de lo que ha llevado al éxito o ha sido nuestra impronta y abrazar nuevas estrategias, porque implica cambiar, y el cambio tiene un alto precio a pagar.
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Adamcová, Kristina. "Využití celebrit v marketingové komunikaci dámské kosmetiky značky adidas." Master's thesis, Vysoká škola ekonomická v Praze, 2013. http://www.nusl.cz/ntk/nusl-197850.
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The objective of the diploma thesis was to evaluate the suitability of choosing beach volleyball representatives Kristýna Kolocová and Markéta Sluková as the new faces of the adidas brand women's cosmetics line. Following the introduction of the adidas brand is an account of products portfolio distributed by this brand, description of their communication and characteristics of communication of their main competitor. Secondary research prepared the necessary basis for the primary character. The means of the primary research was a questionnaire, which was distributed to 162 respondents mainly from the University of Economics. The result was a finding, that Kristýna and Markéta are known by approximately half of the subjects and that the absence of the main communication channel, television, was a probable influence on the awareness of the subjects about cooperation with the adidas women's cosmetics brand. The recommendation for future marketing campaigns is more intensive communication via internet and the use of television as the key communication channels.
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Matyáš, David. "Finanční analýza a srovnání ukazatelů u společností Nike a Adidas." Master's thesis, Vysoká škola ekonomická v Praze, 2012. http://www.nusl.cz/ntk/nusl-162632.
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In this thesis I describe the process of financial analysis and consequently I perform a comparison of two competitors whose reports are based on different accounting standards. Financial analysis is performed on data from consolidated financial statements and the analysis deals with possible gaps in reporting arising from the fact that Nike, Inc. uses U. S. GAAP, while adidas AG applies to IFRS. I conclude that in this particular case there is not significant divergence between data reported and analysis can be undertaken without material errors. Comparison itself shows that both companies are generally in a good financial condition, but with adidas falling behind quite considerably in a few indicators. As such I can mention assets turnover, operating margin, working capital and others.
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Mikulová, Eva. "Analýza možností efektivního rozvoje vztahů s novináři ve společnosti adidas ČR, s.r.o." Master's thesis, Vysoká škola ekonomická v Praze, 2007. http://www.nusl.cz/ntk/nusl-4926.
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The thesis is focused on valuing of two projects that should improve cooperation between a company of adidas and journalists. The first project is a showroom opened for journalists, the second one are new web pages. The main goal of this thesis is to make an analysis of the projects using methods of decision making management. Second, also very important goal is to find other possibilities how to improve cooperation with journalists and reach higher positive publicity.
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Frego, Elisa <1990>. "Sustainability: strategic and marketing approaches. The case of Adidas and the Kayley LW." Master's Degree Thesis, Università Ca' Foscari Venezia, 2014. http://hdl.handle.net/10579/5312.
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In recent years purposes of a sustainable industrial development have been accepted and integrated in the business strategy of many leading companies. Firms are increasingly producing with a focus on green/sustainable products, according to an inner direction of the company or as a result of a competitive strategy. The aim of this research is to investigate how green/sustainable products can afford the market, in particular that of sport related items. Specifically, the first part reviews the literature on the consumer side, considering well-known studies and highlighting relatively new researches that give evidence to factors able to influence the purchase decision. The second part considers the literature on the firm side, emphasizing the different strategies that companies may adopt to successfully market sustainable/green products. The third part will analyze the topic of sustainability in the sport industry through a specific case: Adidas and training footwear, in particular the woman dance shoes “Kayley LW”. Finally, a focus group with young potential consumers has been done to better understand their perceptions about sustainable/green products, in particular if sustainability is seen as an added value when performance requirements are involved.
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Goris, Michelle. "Adidas, the All Blacks, and Maori Culture: Globalization and the Reformation of Local Identities." Thesis, University of Oregon, 2013. http://hdl.handle.net/1794/13308.
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As corporations transcend international borders new questions arise concerning the formation of identities. This study looks at adidas advertising campaigns "Bonded by Blood" and "Of This Earth" and how they represent and commodify Māori culture. "The Making" of "Bonded by Blood" is the video component for that campaign. The "Of This Earth" file is the TV commercial from 2007. Furthermore, this study looked at whether or not these advertisements are in fact reaffirming already established stereotypes about indigeneity and "Otherness." This thesis is informed by Stuart Hall's article "The Spectacle of the Other" as well as works by other scholars who discuss ideologies of Otherness, globalization, glocalization, mobility, and corporate sports sponsorship. The posters of each campaign as well as the video components were analyzed through textual analysis. The results show that patterns of cultural appropriation and reaffirmation of stereotypes do occur in the posters and videos of those campaigns.
The two video components are included as supplementary files for this thesis.10000-01-01
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Nufer, Gerd. "Event-Marketing und -Management : Theorie und Praxis unter besonderer Brücksichtigung von Imagewirkungen /." Wiesbaden : Dt. Univ.-Verl, 2007. http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&doc_number=015707877&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA.
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Liu, Shuyi. "A New Insight to Control Technology Spillover : – a Case Study of Adidas in China." Thesis, Halmstad University, School of Business and Engineering (SET), 2010. http://urn.kb.se/resolve?urn=urn:nbn:se:hh:diva-5378.
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Purpose- Previous literatures focus on the technology spillover from multinational companies to local companies. However, the great threats generated from spillover to subsidiaries were omitted. The purpose of this paper is to explore the variables which can help subsidiaries control the technology spillover.
Methodology- First a conceptual model is developed, which will then be used to map out how subsidiaries can control their technology spillover. An Adidas' local representative in China is used during the case study.
Findings- Findings indicate that there is a possibility to control the technology spillover by adopting certain variables. There are however, no omnipotent variables to stop the technology spillover. Thus the selection of variables employed needs to consider that products have different attributes.
Value- This paper stresses the importance and the very necessity of controlling technology spillovers. Furthermore, it maps influencing variables and tests, whether these variables work in real case.
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Carr, Daniel. "The Effectiveness of Collaboration Within Supply Chain Management: A Case Study of Adidas Group." Scholarship @ Claremont, 2019. https://scholarship.claremont.edu/cmc_theses/2078.
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For a multi-national company like Adidas, supply chain management is one of the most crucial aspects of business operations. Products cannot be sold unless Adidas’s supply chain is well-managed and efficient, and public perception of a brand/company is critical to success.
This case study analyzes the effectiveness of Adidas's distinct “collaborative approach” to supply chain management, which is characterized by not only monitoring and auditing suppliers, but also training them to make Adidas’s standards their own and approaching suppliers with the intention of building long-term relationships where the suppliers can become self-sufficient.
This study reviews the structure of Adidas's supply chain, the nature of Adidas's collaborative approach to supply chain management, the benefits that collaboration provides over the conventional "compliance" approach to supply chain management, and the potential shortcomings of Adidas's approach. A conclusion is reached that the collaborative approach is the backbone of Adidas's success as one of the largest apparel manufacturers in the world because of its holistic nature and consideration for unique cultural challenges.
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Gunnarsson, Linnéa, and Johanna Lindqvist. "Sportbranschens relationsskapande kommunikation i sociala medier : En kvalitativ textanalys av Nike och adidas på Facebook." Thesis, Örebro universitet, Institutionen för humaniora, utbildnings- och samhällsvetenskap, 2015. http://urn.kb.se/resolve?urn=urn:nbn:se:oru:diva-45272.
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Nithenius, Jessica, and Elisabeth Rosenholm. "Impossible is nothing : En studie av symboliskt värdeskapande i Adidas varumärkeskommunikation och samspelet med hip-hopkulturen." Thesis, Linköping University, Department of Management and Economics, 2006. http://urn.kb.se/resolve?urn=urn:nbn:se:liu:diva-5661.
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Bakgrund: I dagens samhälle har varumärken kommit att spela en allt större roll för såväl konsumenter som företag. Varumärken fungerar som en ledsagare i individers sökande efter identitet och samtidigt som en gemensam nämnare eller tillhörighetsfaktor inom olika subkulturer. Företag kan med hjälp av symboliska värden sända ut signaler som stämmer överens med olika individers värderingar och på så sätt attrahera konsumenter och samtidigt ringa in en önskad målgrupp. Dock kan även det motsatta inträffa, det vill säga en annan grupp än den tänkta målgruppen kan komma att adoptera ett företags varumärke och göra detta till en del av gruppens image.
Syfte: Syftet med denna studie är att identifiera och åskådliggöra hur en subkultur kan påverka det symboliska värdet av ett varumärke.
Genomförande: För att uppnå syftet har det verkliga fenomenet hip-hopkulturens adoption av varumärket Adidas valts att empiriskt undersökas. Detta utifrån kvalitativa intervjuer gjorda med respondenter från hip-hopkulturen så som bland andra gruppen Latin Kings och Infinite Mass, tillsammans med personer från företaget Adidas, samt analyschefen på MTV Nordic Networks och radioproducenten Stefan Wermelin.
Resultat: Denna undersökning visar bland annat på att en subkultur kan påverka det symboliska värdet på ett varumärke genom att inte enbart ta till sig de symboliska karaktärer varumärket står för, utan även överföra subkulturens värderingar på varumärkets image. Emellanåt så inträffar företeelsen att teori och verklighet inte talar samma språk, vilket vidare visas i denna uppsats. Hip-hopkulturens konsumtion av Adidas tjänstgör här som ett konkret exempel på en rådande anomali som bryter det traditionella marknadsföringsparadigmet.
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Berger, Christian [Verfasser]. "Strategic Sports Marketing – The impact of sport advertising upon consumers : Adidas - A Case Study / Christian Berger." München : GRIN Verlag, 2008. http://d-nb.info/118595161X/34.
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Pérez, Chuctaya Luis Miguel. "Los micro influencers en Tik Tok como promoción de la recordación de marca en millennials. Caso Adidas." Bachelor's thesis, Universidad Peruana de Ciencias Aplicadas (UPC), 2020. http://hdl.handle.net/10757/653575.
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En el entorno digital, las personas tienen más poder sobre lo que quieren ver y lo que no. Por ello, las marcas buscan mantenerse en la mente del consumidor sin ser rechazados. En ese aspecto, los micro influencers poseen ciertas características de comunicación más cercanas y empáticas con el público que los sigue. El propósito de este estudio fue identificar cómo el uso de la marca Adidas por micro influencers de la red social Tik Tok promueve la recordación de marca en los millennials. Se hizo uso de un enfoque cualitativo por medio de entrevistas a profundidad. Se tomaron como variables a los micro influencers de la red social Tik Tok (X1) y a la recordación de marca (X2), siendo la variable dependiente la percepción de los Millennials (Y).In the digital environment, people have more power over what they want to see or not in it. Therefore, brands seek to stay in the mind of the consumer without being rejected. In this matter, the micro-influencers have certain characteristics of closer and more empathetic communication with people that follow them. The purpose of this study was to identify how the use of the brand Adidas by micro influencers from the social network Tik Tok, promotes brand awareness in millennials. A qualitative approach was used through in-depth interviews. The micro-influencers of the social network Tik Tok (X1) and the brand awareness (X2) were taken as variables, with the perception of millennials (Y) being the dependent variable.
Trabajo de investigación
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Aceituno, Romero Mabel. "Evaluación de la relación entre imagen de la tienda y experiencia de marca : un estudio empírico sobre Tiendas Adidas." Tesis, Universidad de Chile, 2017. http://repositorio.uchile.cl/handle/2250/144292.
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TESIS PARA OPTAR AL GRADO DE MAGÍSTER EN MARKETINGEl presente estudio se enfoca en analizar la relación existente entre la imagen de la tienda con la experiencia de marca, y como esta última puede influir en la actitud a la marca, apego a la marca y valor de marca. Por otra parte, el tipo de tienda (Flagship Store o Brand Store) tiene influencia en la imagen de la tienda con la experiencia de marca que tengan los consumidores. Este estudio es cuantitativo del tipo concluyente, donde la metodología de la investigación se aplicó de forma transversal, obteniendo la información necesaria mediante una encuesta presencial y autoadministrada. La encuesta se aplicó a 528 individuos que compraron en alguna de las tiendas de Adidas, y además eran consumidores de la marca. Una vez recopilada la información se formó la base de datos en Excel, la cual luego se traspasó a SPSS. Posteriormente, se realizó un análisis de fiabilidad y validez (análisis factorial exploratorio) para evaluar si el instrumento utilizado era idóneo. El aporte que tiene esta investigación es mostrar como el tipo de tienda (Flagship Store o Brand Store) influye en la relación existente entre imagen de la tienda y experiencia de marca, y también ver si la experiencia de marca tiene influencia en los constructos de marca (apego a la marca, actitud a la marca y valor de marca). La originalidad de este estudio es determinar si en Chile funciona el tipo de tienda Flagship Store, es decir, si este cumple con los objetivos esperados, para que las empresas inviertan en este diseño de tienda con el fin de construir una marca más potente, o si es innecesario y no se obtienen los resultados esperados, para no malgastar recursos. Por lo tanto, diferentes empresas pueden tener conocimiento de que mejoras en las variables ya mencionadas, son factores influyentes en los individuos, lo que finalmente conducirá a obtener información necesaria para tomar decisiones estratégicas, con el fin de aumentar valor a los clientes, a la marca y mejorando la relación cliente, marca y empresa. Posteriormente, se realizó un análisis de regresión lineal entre imagen de la tienda con experiencia de marca, de la Flagship Store como de la Brand Store para ver si existe diferencia por el tipo de tienda en Chile. Finalmente, se efectuó el análisis factorial confirmatorio, mediante un modelo de ecuaciones estructurales (SEM) para observar la relación que existe entre la variable independiente (imagen de la tienda) con las variables dependientes (experiencia, actitud, apego y valor de marca), con el fin de rechazar o no rechazar las hipótesis planteadas en este estudio, plasmado en el modelo que será visto en el transcurso de la investigación.
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Maddock, Paul Andrew II. "The Economic Implications of NBA Player Achievements on Athletic Apparel Companies." Scholarship @ Claremont, 2018. http://scholarship.claremont.edu/cmc_theses/1895.
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This paper aims to measure the economic impact of different NBA player achievements on the athletic apparel companies, Nike, Adidas, and Under Armour. It looks at players affiliated with the brands who participated in three different events in the NBA from from 2007 to 2017: the All-Star game, the All-NBA awards, and starting lineups in the Finals. Monthly stock returns for each company were calculated for the months the events took place: January, February, May, and June. The return of each company was then regressed on total number of players each company had in the events. Four total regressions were run for the months of January, February, May, and June. Understanding the economic implications of endorsed players participating in these events can help athletic apparel companies draft more cost efficient endorsement contracts.
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Zagel, Fabian, and Volodymyr Tarhonskyi. "How do German industrial leaders evolve their business model towards sustainability : A case study of Adidas AG and Siemens AG." Thesis, Högskolan i Halmstad, 2020. http://urn.kb.se/resolve?urn=urn:nbn:se:hh:diva-42756.
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Yang, Hong, and Dan Luo. "A Study of Additive Manufacturing Technology’s Development and Impact Through the Multi-Level Perspective Framework and the Case of Adidas." Thesis, KTH, Skolan för industriell teknik och management (ITM), 2019. http://urn.kb.se/resolve?urn=urn:nbn:se:kth:diva-254254.
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The Additive Manufacturing (AM) technology, known as 3D printing, is regarded as the ‘next generation of manufacturing’. It is classified as a disruptive technology and AM has attracted scholars worldwide and received extensive attention in various industries, which is significantly changing the way we design, produce, distribute and consume. This paper reviews how the AM development can be explained as a process of technological transition from a radical technological innovation to a social level technology, through integrating the technological innovation and the multilevel perspective (MLP) theories. In this way, we present a conceptual framework that provides a foundation for discussing AM trajectory and discover a development prediction of AM technology in the lens of MLP theoretical perspective. Secondly, the paper elaborates how AM is impacting businesses within the scope of open innovation through a case study on Adidas, to provide empirical support for similar industrial players to better predict the innovation trajectory through AM applications.
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Arnold, Dennis Heiko <1993>. "Industry 4.0 – The Implementation of Sustainable Business Models and Strategies From Off- to Reshoring The Case Study Adidas & Diadora." Master's Degree Thesis, Università Ca' Foscari Venezia, 2018. http://hdl.handle.net/10579/14060.
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The relevance of Industry 4.0 and new disruptive technologies have increased tremendously over the last decade. This development enables companies to establish new advanced business models and produce more. Nowadays, international companies often implement the reshoring model in their strategies. The market request for more customization and short time to market drives forward reshoring. Only the advanced technology enables companies to increase their productivity and produce in the home or target market. The key is to attain proximity to innovation and to customers. Conclusively, the author analysis two case studies, which follow different reshoring strategies. Adidas’ reshoring strategy is highly depended on Industry 4.0, whereas Diadora goes back to their roots and reopened their old factory. Based on the research and results of the analysis the author developed a future proof reshoring strategy to stay competitive in the long run. The dissertation gives a blueprint on how to approach reshoring and explains step by step to establish a successful strategy at the reshoring destination, based on Industry 4.0.
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Ríos, Burga Giorgio André, and Burga Giorgio André Ríos. "Posicionamiento de la marca deportiva Adidas comparada con Nike, Reef, Billabong y Rip Curl en la zona norte del Perú 2013." Bachelor's thesis, Universidad Católica Santo Toribio de Mogrovejo, 2014. http://tesis.usat.edu.pe/handle/usat/139.
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La presente investigación tiene como objetivo determinar el posicionamiento de la marca deportiva Adidas comparada con las marcas que se encuentran en el mercado de la zona norte del Perú, refiriéndose a Nike, Reef, Billabong y Rip Curl. Además se define el perfil del consumidor actual y potencial de productos deportivos en las ciudades de Piura, Chiclayo y Trujillo, para posteriormente desarrollar una propuesta estratégica. Se utilizó como herramienta un focus group para determinar los atributos relevantes por los consumidores, seguido se realizó una encuesta a 383 personas en las ciudades planteadas, teniendo ciertas características como la independencia económica y conocimiento del producto, para luego ser procesados por SPSS 20 y obtener resultados en tablas, gráficas y figuras para su comprensión. También fue necesario entrevistar a profesionales conocedores del tema. Una de las principales conclusiones, es la relación del atributo durable con la marca Adidas, debido a factores como el lugar de uso y la frecuencia de compra, a diferencia de las otras marcas que son relacionadas con los atributos diseño y color. Por último se realiza una estrategia de posicionamiento utilizando un marketing mix en el desarrollo de la campaña Lleguemos a la meta, en donde se aplica una propuesta de valor, apoyada en la diferenciación de la marca con el propósito de captar a los consumidores del nivel socioeconómico C a través de su canal tradicional.Tesis
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Blüchert, Simon, and Mårten Nordbeck. "Connecting Value Co-Creation Practices and Consumer Relationships in Brand Communities : A Comparative Multiple Case Study of Two Adidas Runners Communities." Thesis, Uppsala universitet, Företagsekonomiska institutionen, 2020. http://urn.kb.se/resolve?urn=urn:nbn:se:uu:diva-414424.
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A strong brand community is characterized by its value co-creation practices and brand community consumer relationships. Although previous brand community literature explains the contribution of brand community entities through these practices and relationships separately, no identified research has focused on how these practices are connected to the consumer relationships. In short, this body of literature has neglected to describe what practice corresponds to which consumer relationship. Therefore, the purpose of this study sought to describe the value co-creation practices within brand communities in relation to its consumer relationships. A comparative multiple case study of two Adidas Runners communities was applied to address this. The findings suggest that the higher level of brand community entity involvement in value-co creation practices, the stronger brand community consumer relationships. Furthermore, the study details the connections between the different value co-creation practices and their corresponding consumer relationships. Specifically, these connections are as follows; social networking and community engagement practices connected to the consumer-other consumers and consumer-marketer relationships, impression management practices connected to the consumer-brand relationship, and brand use practices connected to the consumer-product and consumer-marketer relationships. In addition, the findings suggest the practice of socializing to be added to the set of value cocreation practices.
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Mohr, Lara T. "Die Bedeutung subjektiv-rationaler und emotionaler Manager-Motive bei Mergers & Acquisitions : untersucht am Beispiel der Übernahme von REEBOK durch ADIDAS /." Lohmar ; Köln : Eul, 2009. http://d-nb.info/993733018/04.
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Rios, Burga Giorgio André. "Posicionamiento de la marca deportiva Adidas comparada con Nike, Reef, Billabong y Rip Curl en la zona norte del Perú 2013." Bachelor's thesis, Universidad Católica Santo Toribio de Mogrovejo, 2014. http://hdl.handle.net/20.500.12423/139.
Full textAbstract:
La presente investigación tiene como objetivo determinar el posicionamiento de la marca deportiva Adidas comparada con las marcas que se encuentran en el mercado de la zona norte del Perú, refiriéndose a Nike, Reef, Billabong y Rip Curl. Además se define el perfil del consumidor actual y potencial de productos deportivos en las ciudades de Piura, Chiclayo y Trujillo, para posteriormente desarrollar una propuesta estratégica. Se utilizó como herramienta un focus group para determinar los atributos relevantes por los consumidores, seguido se realizó una encuesta a 383 personas en las ciudades planteadas, teniendo ciertas características como la independencia económica y conocimiento del producto, para luego ser procesados por SPSS 20 y obtener resultados en tablas, gráficas y figuras para su comprensión. También fue necesario entrevistar a profesionales conocedores del tema. Una de las principales conclusiones, es la relación del atributo durable con la marca Adidas, debido a factores como el lugar de uso y la frecuencia de compra, a diferencia de las otras marcas que son relacionadas con los atributos diseño y color. Por último se realiza una estrategia de posicionamiento utilizando un marketing mix en el desarrollo de la campaña Lleguemos a la meta, en donde se aplica una propuesta de valor, apoyada en la diferenciación de la marca con el propósito de captar a los consumidores del nivel socioeconómico C a través de su canal tradicional.Tesis
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Bicho, Andreia. "Adidas AG - sportswear." Master's thesis, 2018. http://hdl.handle.net/10362/38763.
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Schwarzmayr, Ludwig. "Adidas AG: sports apparel." Master's thesis, 2015. http://hdl.handle.net/10362/15342.
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Seeger, Tom Lukas. "Adidas AG : equity valuation." Master's thesis, 2019. http://hdl.handle.net/10400.14/26886.
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This thesis aims to present a sophisticated valuation for the Adidas Group at the 7th of January 2019. The analyzed company is an internationally operating firm of the sports & apparel sector, based in Herzogenaurach in Germany and is a component of Germany´s blue chip index DAX30. To provide a final evaluation about the current share price of Adidas, two different valuation approaches were performed. The discounted cash-flow analysis reflects the essential part of this dissertation and was backed up by a peer group multiple analysis. After deriving equity values in both approaches, main assumptions were compared with an equity research recommendation of the German private bank Hauck & Aufhäuser, published in July 2018. Finally, after considering all created models and the underlying assumptions, a BUY recommendation was expressed for Adidas since most of the computed results vary above the current share price. Especially the implication of the DCF result gives occasion to believe in a further growth potential of the Adidas stock.Esta tese visa apresentar uma avaliação sofisticada do Grupo Adidas no dia 7 de Janeiro de 2019. A empresa analisada é uma firma que opera a nível internacional em setores como desporto e vestuário, com sede em Herzogenrauch, na Alemanha, e faz parte do índice Blue-Chip DAX30, na Alemanha. Para obter a avaliação final da cotação atual das ações da Adidas, foram realizadas duas abordagens de avaliação diferentes. A análise dos fluxos de caixa descontado (DCF) reflete a parte essencial desta dissertação e foi suportada por uma análise dos múltiplos do peer group. Após a obtenção dos valores dos capitais próprios por ambos os métodos, os principais pressupostos foram comparados com uma recomendação do banco privado alemão Hauck & Aufhäuser, publicada em julho de 2018. Finalmente, depois de considerar todos os modelos criados e os pressupostos subjacentes, foi dada uma recomendação de compra para a Adidas, uma vez que a maioria dos resultados calculados varia acima da cotação atual das ações. Em particular, como consequência do resultado obtido a partir do método DCF, existe oportunidade de acreditar num maior potencial de crescimento das ações da Adidas.
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Pereira, Pedro. "Adidas AG - footwear and apparel." Master's thesis, 2018. http://hdl.handle.net/10362/35453.
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Costa, Ana Margarida Campos Duarte. "Equity valuation of Adidas AG." Master's thesis, 2019. http://hdl.handle.net/10400.14/29272.
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The purpose of this dissertation is to determine Adidas AG target share price as of 13th March of 2019 (day when the full 2018 annual report was published) by accomplishment of a more profound valuation of the Group. Consequently, issue an adequate investment recommendation of either buy, hold or sell by comparing it with the market price on that date. Therefore, the research question underlying this dissertation is: “What is the fair value of one common share at 13th March of 2019 and how different it is from the market price?”
Adidas AG is the second largest representative of the global footwear and apparel market. The Company has strongly solidified its position over the past 4 years, surpassing its biggest competitor Nike, Inc.
The valuation is determining upon a thorough analysis on the Sportswear Industry, followed by its current macroeconomics context and expected market trends, as well as a detailed company analysis in order to form accrued assumptions for the future.
The primary method used was the Discounted cash-flow analysis as the major source for the aim of this dissertation, and secondly the forward-looking multiples valuation as a complementary approach. Both valuation methods reach a range price per share of €248,4-€281,3 which implies a BUY recommendation with an upside of 21%-37%.
Subsequently, my valuation is compared with equity report issued by Warburg Research and Piper Jaffray & Co. The main differences between the valuation methodologies and assumptions are analysed.O objetivo desta dissertação é determinar o preço por ação da Adidas AG a partir de 13 de março de 2019 (dia em que o relatório e contas completo de 2018 foi publicado) realizando uma avaliação aprofundada do grupo. Consequentemente, uma recomendação de investimento adequada é emitida (comprar, segurar ou vender) comparativamente com o preço de mercado nessa data. Portanto, "Qual é o valor justo de uma ação a 13 de março de 2019 e como difere do preço de mercado?" é efetivamente a questão subjacente. Adidas AG é a segunda maior representante do mercado mundial de calçados e vestuário. A empresa tem solidificado fortemente a sua posição ao longo dos últimos 4 anos, superando o seu maior concorrente Nike, Inc. A avaliação é determinada através de uma análise minuciosa da indústria desportiva, seguida pelo seu contexto macroeconómico atual e pelas tendências esperadas do mercado, assim como uma análise detalhada da Empresa, de forma a tingir suposições corretas para o futuro. O método primário utilizado foi a análise de fluxo de caixa descontado como a principal fonte para o objetivo desta dissertação e, em segundo lugar, a avaliação por múltiplos como uma abordagem complementar. Ambos os métodos de avaliação atingem um preço de variação por ação de € 248,4-€ 281,3 o que implica uma recomendação de COMPRA que se traduz numa valorização de 21%-37%. Subsequentemente, a avaliação é comparada com o relatório emitido por Warburg Research e por Piper Jaffray & Co.
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Santos, Duarte Francisco. "Adidas Group : equity valuation thesis." Master's thesis, 2017. http://hdl.handle.net/10400.14/22736.
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The aim of this thesis is to present a valuation for Adidas Group stock at December 31st 2016, company whose mission is “to be the global leader in the sporting goods industry with brands built upon a passion for sports and a sporting lifestyle.”
Adidas Group is a globally known multinational founded in 1949 by Adi Dassler whose headquarters are located Herzogenaurach, Germany. In November 1995 the Germany based company went public and three years afterwards, in 1998, Adidas share was admitted in the DAX30 stock exchange where the 30 largest quoted companies are listed.
Three different valuation approaches were used in order to define a better range where Adidas AG stock could fall. These three approaches were the DCF APV, which holds the upper bound of the range, the Multiples Valuation and the Dividend Discount Model, which holds the lower bound of the range. After performing the three valuation models, I performed a comparison to an equity research note issued by Exane BNP Paribas in January 19th 2017.
In the end, an Investment Note was issued, summarizing all the process and advising a SELL recommendation at a target price of 161,53€.O objectivo desta tese é apresentar uma avaliação para a acção do Grupo Adidas a 31 de dezembro de 2016, empresa cuja missão é "ser o líder global na indústria de artigos desportivos com marcas construídas sobre a paixão pelo desporto e um estilo de vida desportivo". A Adidas Group é uma multinacional mundialmente conhecida que foi fundada em 1949 por Adi Dassler, e cuja sede está localizada em Herzogenaurach, na Alemanha. Em novembro de 1995 tornou-se pública e, três anos depois, em 1998, a Adidas foi admitida na bolsa DAX30, onde estão listadas as 30 maiores empresas cotadas. Foram utilizadas três diferentes abordagens de avaliação para definir o melhor intervalo em que a acção da Adidas AG se poderia encontrar. Estas três abordagens foram o DCF APV, que constitui o limite superior do intervalo, a Multiples Valuation e o Dividend Discount Model, que constitui o limite inferior do intervalo. Após a realização dos três modelos de avaliação, foi feita uma comparação com uma avaliação externa emitida a 19 de janeiro de 2017 por uma empresa especializada do ramo, a Exane BNP Paribas. No final, foi emitida uma Nota de Investimento resumindo todo o processo e aconselhando uma recomendação de SELL a um preço-alvo de 161,53 €.
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Menezes, João Francisco Carvalho Gomes. "Adidas Group : equity valuation thesis." Master's thesis, 2015. http://hdl.handle.net/10400.14/20039.
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This dissertation has the purpose of valuating Adidas Group, a German company, listed on
the DAX30, which has three main brands, Adidas, Reebok and TaylorMade.
To reach a value for the share of the company, taking in consideration the future of the group,
it has been used different methods. The Discounted Cash Flow (DCF), considered by many
analysts the most accurate method is the process of valuating Adidas explained more detailed
in this Thesis, which allowed us to get to a value of 18.799,44M€ for the Equity which means
a value of 94€ per share. The relative valuation method, considered as a good complement to
the DCF was used as it was the Dividend Discount Model (DDM), based on the dividends
that will be distributed to the shareholders in the next years. Bearing this in mind many
forecasts and assumptions about several items of the financial statements have been made in
order to get to the fair value of the share. To reach an accurate range of values for the Adidas
share price it has been done a sensitivity analysis due to some factors used related to the
market, to the industry and to the company that can vary from the ones assumed and
computed because of the uncertainty. Ultimately, a comparison with the target price of the
report made by J.P. Morgan, published in November 2015, was done, where they reached a
value of 85€ per share.Esta tese tem como objectivo fazer uma avaliação do Grupo Adidas, uma empresa Alemã, que está listada no Índice Alemão DAX30. Esta empresa tem três marcas, Adidas, Reebok e TaylorMade. De forma a chegar a um valor por ação da empresa, foram usados diferentes métodos. O primeiro método foi o Discounted Cash Flow (DCF), considerado por muitos analistas como o modelo mais exato para fazer uma avaliação pelo qual foi obtido um valor de 18.799,44M€ para o Capital Próprio e de 94€ por ação. Seguidamente também foram usados os métodos dos múltiplos, considerado como um bom complemente ao método do DCF, e o método do Dividend Discount Model (DDM), que atualiza os dividendos futuros a serem distribuídos aos acionistas da empresa nos próximos anos. Assim, foram feitas previsões e foram assumidos certos comportamentos para as rubricas das diversas demonstrações financeiras. Foi também feita uma análise de mercado para dois fatores que estão ligados à incerteza da indústria, do mercado e da empresa, o Weighted Average Cost of Capital (WACC) e o crescimento de longo prazo, de forma a chegar a um intervalo de valores para a ação. Por fim, foi feita uma comparação entre o preço avaliado pela J.P. Morgan num relatório publicado em Novembro de 2015, onde obtiveram um valor de 85€ por ação.
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Ivanovic, Dunja. "Is China the future market of Adidas." Master's thesis, 2020. http://hdl.handle.net/10362/105931.
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In the following report a certain issue which could have an impact on Adidas’ valuation outcome and which I recognized while doing the Equity research is briefly addressed. The aim of the report is to understand whether China is really the future market of Adidas and if Adidas’ market share in this market could continue to grow at double-digit rates projected in the main report. In the first part of the report a short overview of Chinese sportswear industry and its trends is given. In the next step, a detailed SWOT analysis of Adidas position in China was conducted in order to better understand possible future scenarios. After identifying the main strengths, weaknesses, opportunities and threats, I presented a scenario analysis with 3 cases: base case, best case, worst case. Based on the outcome of the scenario analysis, and obtained share prices, I concluded that Adidas may be undervalued by the market as the share price calculated in all 3 scenarios was higher than the Adidas’ current share price of EUR273
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Heinold, Mario. "Field lab: equity research on Adidas AG." Master's thesis, 2020. http://hdl.handle.net/10362/114477.
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Despite significant increases of Adidas’ share price throughout the past years, the following report concludes that the stock is still undervalued. Based on an extensive analysis of Adidas’ past performance and actions, the company’s position within the industry, as well as current industry trends, the report concludes that Adidas is well set for the future with revenues that are expected to increase with a CAGR of 7.0% until 2025. The main drivers are the expansion of middle-class population in Asian economies, a shift towards more sustainable sportswear products, and increasing sports participation globally.
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Sepoetro, Tosca Devi. "The Future of Services in adidas Retail." Master's thesis, 2018. http://hdl.handle.net/10400.6/9913.
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The enhancements in digital technologies entail a shift in consumer behavior and expectations towards brands and retailers. Especially consumers belonging to Generation Z are enabled through digital means to self-control their consumer journey. While this benefits e-commerce channels, “brick-and-mortar” stores need to redefine their role to serve consumers with more meaningful value propositions that go beyond the purchase of tangible products. The reopening of the adidas brand flagship store in London in October 2019 gives cause for the design of a new service concept with the objective to harness the strengths of physical retail and to increase relevance for Gen Z consumers. An experiential service that empowers consumers during their journey towards self-actualization differentiates from the offerings of convenience-driven e-commerce channels and allows consumers to invest into their personal growth and to contribute to a higher purpose. In a participatory approach and in collaboration with internal and external stakeholders, the researcher designs an innovative service experience entitled Creator Hub that aims to empower adidas’ Creator consumers in their transformation journey through creative upskilling. The Creator Hub serves as a platform for collective and co-creative experiences and ties in the local cultural context and a more sustainable vision of consumption. The researcher and stakeholders create three services of different co-creation levels and creative complexity and visualize the involved people, processes and evidences in service blueprints. The Creator Hub is an example for a retail space where value is created not through physical consumption but through a service that has a broader impact on people’s lives.O desenvolvimento das tecnologias digitais implicou uma mudança no comportamento do consumidor e expectativas para marcas e retalhistas. Especialmente os consumidores pertencentes à Geração Z, nativos digitais por natureza, têm um conjunto de capacidades que os permite para autocontrolar a sua jornada de consumo. Embora esta predisposição para fazer uso dos meios digitais beneficie os canais de comércio eletrónico, as lojas físicas precisam de redefinir o seu papel para ir ao encontro dos consumidores com proposições de valor mais significativas, que vão para além da compra de produtos tangíveis. A reabertura da flagship store da marca adidas em Londres, em outubro de 2019, dá origem ao projeto de um novo conceito de serviço, que pretende beneficiar dos pontos fortes do retalho físico e aumentar a relevância para os consumidores da Geração Z. Um serviço experimental que capacita os consumidores durante sua jornada rumo à autoatualização, diferencia-se das ofertas de canais de e-commerce movidos por conveniência e permite que os consumidores invistam no seu crescimento pessoal e contribuam para um propósito maior. Através de uma abordagem participativa, foi projetada uma experiência de serviço inovadora em conjunto com vários stakeholders, internos e externos, intitulada Creator Hub. Este serviço visa capacitar os consumidores Creator da adidas na sua jornada de transformação através do desenvolvimento de capacidades criativas. O Creator Hub serve como uma plataforma para experiências coletivas e cocriativas no que se associam ao um contexto cultural local e a uma visão de consumo mais sustentável. O investigador e as partes interessadas criaram três serviços com diferentes níveis de cocriação e complexidade criativa, e onde foi possível observar os participantes envolvidos, os processos e evidências no contexto do planeamento de serviços. O Creator Hub é um exemplo de um espaço de retalho, em que o valor não é criado por meio do consumo físico, mas através de um serviço que tem um impacto mais amplo na vida das pessoas.
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Duarte, Cátia Sofia Gomes. "Adidas AG valuation: Buy, hold or sell?" Master's thesis, 2021. http://hdl.handle.net/10071/24770.
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Adidas, AG. is the second world’s leading player in the sportswear industry, a well-known company for its strong financial performance and solid representativeness within a booming and fierce industry. Notwithstanding, the group is currently going through a controversial phase with Reebok divestiture while, simultaneously, tries to adapt its business to a pandemic reality. Thus, it is important to analyze if the market is accurately pricing the future prospects/challenges into Adidas’ stock price or if this could be an investment opportunity.
The main purpose of this master thesis is to estimate Adidas’ fair price as of 31st December of 2020 and compare it with the market price to produce an investment recommendation of either sell, buy or hold. Hence, several valuation methodologies were applied: The Free Cash Flow to the Firm, the Free Cash Flow to the Equity, the Economic Value-Added model, and Relative Valuation. All assumptions applied to the valuation models follow a conservative approach and are supported by historical, macroeconomic, and industry data.
Based on the results of the different valuation methodologies, a share price range of €329.3 – €340.4 was established, implying an upside potential of 11% – 14%. Therefore, it is concluded that Adidas was undervalued, and a buy recommendation was issued for potential investors.
Subsequently, sensitivity analysis, a monte carlo simulation and a comparison to an equity research note issued by J.P. Morgan were performed to increase the robustness of this equity valuation results.Adidas, AG. é o segundo maior player mundial na indústria do vestuário e calçado desportivo, reconhecida pelo seu forte desempenho financeiro e sólida representatividade numa indústria florescente e competitiva. Não obstante, atualmente, o grupo está passar por uma fase controversa com o desinvestimento da Reebok enquanto, simultaneamente, tenta adaptar o seu negócio a uma realidade pandémica. Desta forma, é importante analisar se a cotação de mercado da ação da Adidas representa o seu valor justo tendo em conta as perspetivas/desafios futuros da empresa ou se haverá uma oportunidade de investimento. O principal objetivo desta dissertação é estimar o justo valor da Adidas a 31 de dezembro de 2020 e compará-lo com o preço de mercado para produzir uma recomendação de investimento de venda, compra ou detenção. Aplicou-se, por isso, várias metodologias de avaliação: O Free Cash Flow to the Firm, o Free Cash Flow to the Equity, Economic Value-Added e os Múltiplos. Todos os pressupostos aplicados aos modelos de avaliação seguem uma abordagem conservadora e são suportados por dados históricos, macroeconómicos e da indústria. Com base nos resultados das diferentes metodologias de avaliação, atingiu-se um preço de variação por ação de €329.30 – €340.40, implicando um potencial de valorização de 11% – 14%. Conclui-se, que a Adidas se encontrava subvalorizada e desta forma foi emitida uma recomendação de compra para potenciais investidores. Subsequentemente, foi realizado uma análise de sensibilidade, uma simulação monte carlo e uma comparação com uma equity research emitida pela J.P. Morgan para aumentar a robustez dos resultados desta avaliação de empresa.
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Hsueh, Yu-Ling, and 薛宇伶. "A Study of the Relation of Consumer’s Adidas 101 Basketball Park Experience with Adidas' Brand Image and Purchasing Intention." Thesis, 2014. http://ndltd.ncl.edu.tw/handle/21537434949859970244.
Full textAbstract:
碩士國立體育大學
休閒產業經營學系
102
The era of the marketing emphasize the property and quality of product had been past. People tend to place a high value on experience of the economic state has come, the whole research needs to be given further consideration from consumers’ experience of all marketing department. This study tried to understand whether adidas 101 can exploit opportunities for improving the image of adidas brand and inspire consumers to purchase more adidas' products. Accordingly, the purposes of this study were to discuss the relation of experience marketing, brand image, and the purchasing intention of adidas 101 users. The subjects of this study were adidas 101 users, a questionnaire was applied as the research tool, 388 samples were interviewed to find their opinions as the data. The statistic analysis was SPSS 20.0 software package. By implementing descriptive statistics, independent sample t-test, one-way ANOVA, and pearson correlation analysis. The consequences of this study were: 1.The adidas 101 users tend to be female, students, and young generation. 2.The “Sense Experience” of experiencing marketing, “Symbolic” of brand image, and “Purchasing Intention” were satisfied by the adidas 101 users after their experiencing in this basketball park. 3.There were significant differences among users’ “Gender”, “Age”, “Education Level”, “Averagely Monthly Incomes”, “The Most Purchasing Brand” related to experiencing marketing. 4.There was a significant difference of “The Most Purchasing Brand” of brand image among users. 5.There was a significant difference of “The Most Purchasing Brand” of purchasing intention among users. 6.There were positive relations among “Experiencing Marketing”, “Brand Image”, and “Purchasing Intention”. From the practical point of view, the author of this study suggested that the adidas 101 Park promoters can host more activities at this park to attract more people from various populations to raise the reputation of this facility as well as to raise the brand image of adidas. From the academic point of view, the author suggested the further researchers who are interested in this issue can consider adopting a qualitative together with quantitate analyzing approach, overcoming the limitation of venue, the ration equality of genders, and to find out and compare the non-adidas 101-users’ responses with the users.
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Santos, Maria Miguel de Melo Azevedo. "HR business partner:a corporate project at Adidas Iberia." Master's thesis, 2011. http://hdl.handle.net/10071/4210.
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This thesis pretended to apply the Human Resources Business Partner (HRBP) concept, finding out whether Human Resources (HR) retail department adds value to the organization by delivering RH solutions aligned with the business strategy.
A project of four phases was implemented in an adidas store, framed on the five “P‟s” of the adidas retail strategy: People, Product, Premises, Processes, and Profit.
In the first phase – preparing - HR indicators were analyzed (People); HR retail took training about adidas products and worked in the store (Product); visits to the store were made analyzing its organization (Premises); results from Store Check and Risk Assessment were studied (Processes); and HR retail took training about the main business Key Performance Indicators (KPI‟s) and analyzed them (Profit).
In the second phase – delivering - HR developed a training plan for the members of the management team of the store and trained store staff (People); all the professionals received training on adidas products (Product); a set of principles were implemented for a better organization and use of space and a refit to the store was carried out (Premises); the shifts of the store management team were readjusted in order to improve the communication processes between its members (Processes); and store staff took training about business KPI‟s, understanding how they interact to generate sales (Profit).
In the third and fourth stages - measuring and comparing results - HR analyzed and compared HR indicators face the previous ones (People); a visit to the store was made comparing the “before” and “after” (Premises); new Store Check and Risk Assessment results were analyzed and compared (Processes); and store KPI‟s like net sales, number of transactions, Average Transaction Value (ATV), Units per Transaction (UPT), Traffic and Conversion rate were analyzed and compared to the ones from 2010 (Profit).
It was concluded that by working closely with the line manager and aligning actions with the business strategy, the actions implemented contributed to develop and reinforce people competencies and which had a positive impact on the business KPI‟s. By this, is possible to argue that HR retail added value to the organization by delivering RH solutions aligned with the business strategy.Nesta tese pretendeu-se aplicar o conceito de parceiro de negócio de Recursos Humanos, percebendo se o departamento de Recursos Humanos (RH) retail da adidas Ibéria acrescenta valor à organização através de soluções de RH alinhadas com a estratégia de negócio. Um projecto de quatro fases foi implementado numa loja adidas, enquadrado nos cinco “P‟s” da estratégia de retail da adidas: Pessoas, Produto, Premissas, Processos, e Proveito. Na primeira fase – preparação – foram analizados indicadores de RH (Pessoas); os RH retail foram formados sobre os produtos adidas e trabalharam na loja em questão (Produto); foram feitas visitas à loja analizando a sua organização (Premissas); foram estudados resultados de Store Check e Risk Assessment (Processos); e RH Retail receberam formação e analizaram os Key Performance Indicators (KPI‟s) de negócio mais relevantes (Proveito). Na segunda fase – implementação- foi desenvolvido um plano de formação específico para cada um dos membros da equipa de gestão da loja e treinado todo o staff de loja (Pessoas); toda a equipa recebeu formação sobre os produtos adidas (Produto); foi implementado em loja um conjunto de princípios para uma melhor organização e utilização do espaço e a loja foi remodelada (Premissas); foram reajustados os turnos da equipa de gestão da loja para melhorar os seus processos de comunicação (Processos); e o staff de loja recebeu formação nos KPI‟s mais relevantes para o negócio, percebendo como estes interagem para gerar vendas (Proveito). Nas terceira e quarta fases – medição e comparação de resultados – foram analizados e comparados indicadores de RH face aos anteriores (Pessoas); foi feita nova visita à loja comparando os resultados do “antes” e “depois” da implementação dos princípios de organização e da remodelação (Premissas); foram efectuados novos Store Check e Risk Assessment e comparados com os anteriores (Processos); e foram analisados e comparados com 2010 KPI‟s como vendas líquidas, número de transacções, Average Transaction Value (ATV), Units Per Transaction (UPT), Tráfico e Taxa de conversão (Proveitos). Concluiu-se que trabalhando directamente com o line manager e alinhando acções com a estratégia de negócio, as acções implementadas contribuiram para desenvolver e reforçar competências e tal revelou um efeito positivo nos KPI‟s de negócio. Assim, argumenta-se que os RH retail acrescentaram valor à organização através da implementação de soluções de RH alinhadas com a estratégia de negócio.
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SHRIVASTAVA, ANUJ. "EFFECT OF BRAND ON CONSUMER PURCHASE DECISION." Thesis, 2015. http://dspace.dtu.ac.in:8080/jspui/handle/repository/17366.
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This project takes a look in various kinds of Merchandising activities, Market Share of different sports Shoes and various Sales Promotion schemes, which are followed in the Sports Shoes industry. The three major global players i.e. Reebok, Nike, and Adidas dominate the sports Shoes industry in India. India is one of few battlegrounds in the world where there is neck-to-neck competition between the three. The companies claim to be in number one sport coating the data produced by two different marketing research companies.
In the 1980s, Adidas sneakers became popular amongst teenagers and young men. The Adidas sneaker was popularized by the Run DMC song "My Adidas" and became a huge fashion trend. The Tapie affair the history of the company as presented by its official web site is incomplete, perhaps because it is indirectly linked to financial scandals. After a period of serious trouble. The death of Adolf Dassler's son Horst Dassler in 1987, the company was bought in 1990 by Bernard Tapie, for 1.6 billion French francs ($320 million), which Tapie borrowed. Tapie was at the time a famous specialist of rescuing bankrupt companies, a business on which he built his fortune.
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Majcen, Anja. "Adidas AG: powerful brand making strides in key markets." Master's thesis, 2020. http://hdl.handle.net/10362/106043.
Full textAbstract:
This work project is an equity research report on Adidas AG. The aim of the equity research is to issue a buy/hold/sell recommendation to investors by evaluating whether Adidas is currently over-or undervalued by the market. First, we did a company overview and a thorough analysis of the global sportswear industry as well as Adidas’ competitive landscape. Then, we identified and evaluated Adidas’ main business drivers, which include macroeconomic factors, sportswear industry growth drivers and the company’s marketing investments and corporate strategy. Based on these, we developed a detailed forecast by geographical segment and obtained a fair equity value for Adidas using a Discounted Cash Flow (DCF) valuation model. Our investment thesis is that the Adidas Group will experience growth by capturing the athleisure and e-commerce trends in its key markets North America and Greater China. Based on the outcome of our DCF model, which implies a fair value of EUR 304 per share compared to Adidas’ current share price of EUR 273, we issue a BUY recommendation to investors.
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Rufino, Paulo Daniel Oliveira. "Balanced scorecard aplicado à Loja Adidas, Outlet Freeport Alcochete." Master's thesis, 2016. http://hdl.handle.net/10400.5/13178.
Full textAbstract:
Vivemos num mundo onde todos os recursos são escassos e as mudanças são uma constante e a uma escala global, neste sentido só as organizações eficientes é que podem e conseguem aspirar aos melhores resultados e ao sucesso. Devem assim unir-se, de modo á concretização dos objetivos estratégicos estabelecidos inicialmente, reforçando o trabalho em equipa, a responsabilização e a eficiência.
O gestor tem assim um papel fundamental no seio da organização onde está inserido, tem à sua responsabilidade toda uma equipa que terá de liderar com o intuito da concretização dos objetivos definidos, gestão de conflitos internos, tomada de decisão, sendo assim necessário possuir um profundo conhecimento de toda a organização, assim como do seu meio envolvente, facilitando e ajudando a sua tomada de decisão em tempo real.
Deste modo foi aplicada a metodologia Balanced Scorecard na loja Adidas – Outlet Freeport Alcochete, no sentido de avaliar e medir a sua performance, na perspetiva financeira, clientes, processos internos e aprendizagem e desenvolvimento, através dos respetivos objetivos estratégicos, indicadores de desempenho, metas e considerando as relações de causa-efeito entre os vários objetivos estratégicos para a sua concretização.
Tendo em conta a sua relevância e utilidade, o Balanced Scorecard é uma ferramenta essencial no apoio á gestão, pois fornece ao gestor toda a estratégia simplificada e clarificada através do mapa estratégico, o que facilita a sua comunicação, assim como também permite avaliar a performance organizacional no curto prazo, tornando-se indispensável para o sucesso da organização em tempo real.We live in a world where all the resources are limited, and the changes happens constantly, in that way only the efficiencies organizations can aspire the best results and success. The organizations must unite to achieve the initial strategic goals, reinforcing the team work, responsibility and the efficiency. The role of the manager is fundamental in the organization. He has the responsibility to lead his team for the goals established, managing the internal conflicts and making the decisions, and this only can be made if he has a deep knowing of the organization and the external environment, helping him for the decisions in real time. In that way, the methodology of the Balanced Scorecard was applied in the Adidas store – Outlet Freeport Alcochete, to evaluate and measure the performance of the organization in the, financial, costumer, internal processes, development and learning perspectives, using the initial strategic goals, performance indicators, current goals and consideration of the cause-effect between the several strategic objectives for is achievement. The Balanced Scorecard is an important and useful tool to support the management job, using the Strategic Map gives us a clear image of the strategic lines, supporting the communication as well. In order to evaluate the organization performance in the short time, the Balance Scorecard it´s indispensible for the organization success in real time.