Adidas has been on a hot streak thanks to a string of popular new products and a consumer shift to denim and more casual sneakers. North American sales climbed 31 percent in the first quarter to $1.1. billion at a time when other brands have struggled.
The streak has been so hot that Adidas is in the midst of its biggest local hiring spree, expecting to grow its Portland work force by 10%. Adidas currently employs around 1,200 in Portland, up from 850 in 2015.
In 2015, Adidas acquired a 25,000-square-foot building immediately adjacent to its North American headquarters. The Montgomery Park lease signals that’s not enough space to keep up with the company’s growing workforce.
Therefore to compensate for that growth, Adidas has leased nearly 80,000 square feet in Montgomery Park in Northwest Portland as its U.S. surge continues.
The Germany-based company is expected to provide details about the space after it releases its next quarterly earnings report in the upcoming weeks. In the meantime, adidas did share that “as [we] continue to grow our business, we are looking at solutions to ensure sustainable success.”
It’s unclear if new or current employees will work in the space, which is at 2701 N.W. Vaughn and roughly four miles from the company’s North American headquarters on Greeley Avenue in North Portland.
For the complete story, please read Adidas leases 80,000 square feet at a high-profile Portland building by KGW
Photo via Steve Morgan (Own work) via Wikimedia Commons
