Adidas Buys Five Ten
Adidas on Thursday said it has acquired California outdoor footwear and apparel brand Five Ten in a $25 million deal that cements the sportswear giant’s commitment to the outdoor market.
The German athletic footwear and apparel brand, which keeps its North American headquarters in North Portland, in the past three years has made a massive push into the outdoor market, a segment it plans to grow to nearly $700 million in sales by 2015.
Redlands, Calif.-based Five Ten produces a line of both casual and technical apparel and footwear that Adidas says has been embraced by climbers, mountain bikers and other outdoor athletes.
Its lineup includes the Stealth product family featuring more than a half-dozen high-friction rubber compounds on footwear that help athletes gain traction in various conditions.
Its “Elite Team” of endorsers includes Dean Potter, who National Geographic this year named as its athlete of the year, champion big-mountain skier JT Holmes, and renowned action sports athlete Suz Graham.
“Five Ten has continuously been at the forefront of innovations and shares the same passion for athletes as we do at Adidas,” Rolf Reinschmidt, senior vice president of Adidas’ outdoor division, said in a news release. “It represents an excellent addition to the adidasOutdoor portfolio and will allow us to expand into complementary market segments.”
Business Journal staff writer –Portland Business Journal