Adidas Plans to Close Some Stores

Adidas (Herzogenaurach, Germany) CEO Kasper Rørsted said in an interview with the Financial Times that the brand will dial back its number of stores in the coming years amid a push toward selling more of its products online, reports Reuters.

In the interview, he said, “Our website is the most important store we have in the world,” adding, “Over time, we will have fewer stores, but they will be better.”

The athletic company is aiming to double its e-commerce sales to $4.91 billion by 2020. At present, it operates 2500 stores and 13,000 mono-branded franchise stores.