Adidas taps Fear of God for longterm partnership, Jerry Lorenzo to lead basketball division
Adidas has announced a new long-term partnership with Jerry Lorenzo's Fear of God.
As part of the partnership, Lorenzo, the founder and owner of the luxury streetwear brand, will drive the creative and business strategy for Adidas basketball globally. The deal will also solidify the establishment and formation of the third pillar of the Fear of God house, Fear of God Athletics. The new pillar will focus on performance basketball and active lifestyle products that complete Fear of God’s triune nature and compliments the brand's other two pillars, Essentials and Fear of God’s luxury mainline, Adidas said.
"This is a fearless move where shared vision and conviction are at the heart of the accretion of two brands shaping sports and culture, with the purpose to truly multiply our nuanced strengths to revolutionize the performance basketball industry forever," Lorenzo said.
"Adidas and Fear of God share the same dream for the future of basketball, on and beyond the court, and we look forward to changing the face of the industry through a new model that will unfold before us in the coming years."
“The global impact that Jerry Lorenzo and Fear of God has had on culture and the industry is undeniable," added Brian Grevy, Adidas executive board member responsible for global brands.
"[Lorenzo] is a creative visionary and embodies a true expression of the entrepreneurial spirit today. Jerry’s authentic connection to sport, deep understanding of the footwear industry and past, and ability to reinterpret heritage and visualize the future excites us. We look forward to working with him to inspire the next generation of basketball creatives, athletes and communities.”
The partnership comes as the global activewear market is projected to reach $353.5 billion this year, despite the Covid-19 pandemic's impact on retail, according to a recent report from Spanish investment firm Comprar Acciones. Adidas has seen particular success with a 93% increase in e-commerce sales in the third quarter.
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