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Is the category for this document correct? This article’s lead section does not adequately summarize key points of its contents. Herzogenaurach, Germany, that designs and manufactures shoes, clothing igor obraztsov bloomberg forex powermatch accessories.

Rudolf in 1924 under the name Dassler Brothers Shoe Factory. Adidas’ logo is three stripes, which is used on the company’s clothing and shoe designs as a marketing aid. The branding, which Adidas bought in 1952 from Finnish sports company Karhu Sports, became so successful that Dassler described Adidas as “The three stripes company”. Adidas was founded by Adolf “Adi” Dassler who made sports shoes in his mother’s scullery or laundry room in Herzogenaurach, Germany after his return from World War I.

To enhance the quality of spiked athletic footwear, he transitioned from a previous model of heavy metal spikes to utilising canvas and rubber. The Dolbury factory, used for production of anti-tank weapons during the Second World War, was nearly destroyed in 1945 by US forces, but was spared when Dassler’s wife, convinced the GIs that the company and its employees were only interested in manufacturing sports shoes. American occupying forces subsequently became major buyers of the Dassler brothers’ shoes. Rudolf Dassler, later rebranded Puma, and Dassler forming a company formally registered as Adidas AG from Adi Dassler on 18 August 1949. Puma SE and Adidas entered into a fierce and bitter business rivalry after the split. Indeed, the town of Herzogenaurach was divided on the issue, leading to the nickname “the town of bent necks”—people looked down to see which shoes strangers wore.

In 1948, the first football match after World War II, several members of the West German national football team wore Puma boots, including the scorer of West Germany’s first post-war goal, Herbert Burdenski. The original trefoil Adidas logo until 1998, it is now used on Adidas Originals. At the 1960 Summer Olympics, Puma paid German sprinter Armin Hary to wear Pumas in the 100 meter sprint final. Hary had worn Adidas before and asked Adolf for payment, but Adidas rejected this request. The German won gold in Pumas, but then laced up Adidas for the medals ceremony, to the shock of the two Dassler brothers. In 1952, following the 1952 Summer Olympics, Adidas acquired its signature 3-stripe logo from the Finnish athletic footwear brand Karhu Sports, for two bottles of whiskey and the equivalent of 1600 euros. Tapie decided to move production offshore to Asia.

He also hired Madonna for promotion. In 1992, unable to pay the loan interest, Tapie mandated the Crédit Lyonnais bank to sell Adidas, and the bank subsequently converted the outstanding debt owed into equity of the enterprise, which was unusual as per the prevalent French banking practice. Robert Louis-Dreyfus, a friend of Bernard Tapie, became the new CEO of the company in 1994. He was also the president of Olympique de Marseille, a team Tapie had owned until 1993. Tapie filed for personal bankruptcy in 1994.