Friday, November 24, 2017

Yekaterinburg woman claims Adidas owes her rent

A businesswoman based out of Yekaterinburg is alleging that OOO Adidas owes her rent as a result of a May 16, 2005, agreement the two parties signed.

Sole trader Galina Savelyeva is seeking $173,742.68 to cover rent that went unpaid between August 27 and January 10. Savelyeva is also requesting that the company hand over the shopping premises under the transfer act and sign an end of rental term agreement, Ural Business Consulting reports.

A representative for the defendant denied that the allegations are valid.

Adidas is a German sports clothing manufacturer and is the parent company of the Adidas Group. The company produces sportswear, eyewear, watches, shirts, bags and clothing-related goods. The company also owns Reebok, Rockport and TaylorMade-Adidas. Adidas was founded in 1948 by Adolf Dassler.

In the first quarter of 2012, the Adidas Group reported a 14 percent increase in revenues on a currency-neutral basis due to double-digit sales increases in retail, wholesale and other businesses. The net income of the group attributable to shareholders increased to $373.9 million in the first quarter of 2012 from $270.4 million in the first quarter of 2011, representing a 38 percent increase from the previous year.