Adidas

Adidas continues to extend its footprint in the apparel sector from its Herzogenaurach headquarters. The company's resilience, supported by 59k employees and an annual revenue near $24B, makes it a structural reference for investors and partners across Europe.

Talent density and engineering culture have become a quiet competitive moat, particularly as the sector consolidates around fewer global champions.

“Adidas is, in its category, exactly the kind of compounding regional champion the next decade of capital allocation will reward.”

The outlook remains constructive: order books, hiring patterns and capex guidance all point to a multi-year expansion phase.