The adidas Toys Story brand has suffered another setback.
According to industry sources, the adizero toy brand lost market share in the segment due to a slowdown in sales.
“It’s a real challenge.
The adizeros toy line has been the No 1 toy brand for the last three years,” said an industry source.”
But, as a result of the slowdown in the sales of toys, the brand’s share in that segment is likely to be cut in half.”
The sales of adidas toys are a significant part of the toy market.
According the data from the Toy Industry Association of India (TIAI), a US-based toy industry organisation, there were 2.22 crore toy retail outlets in India in the first quarter of 2019.
The data shows that the sector has seen a significant drop in sales as the toy sector shrank by more than 2 per cent to $2.65 billion.
The industry sources said there was a “serious deterioration in the toy sales”, with more than 50 per cent of the sector’s revenue coming from toys.