Adidas North America canceled its holiday parties – saving the US unit $6.3mm in expenses (or $0.03 per share). In one of the most aggressive competitive tactics I’ve seen in a while, skate brand Etnies is taking its crew from Southern California up to Portland, Oregon (Adidas’ US HQ) and throwing a holiday party for Adidas employees only. Open bar with all the Pabst Blue Ribbon and Chardonnay their rivals to the North can consume. So Etnies spends a couple grand on booze, and gets the best PR it will ever get.
