Lin '10 Signs Endorsement Deal With Adidas

In a strategic move designed to undercut Nike’s control of the international shoe market, Adidas has signed Jeremy Lin ’10 to an endorsement deal. Lin, who was previously signed to Nike, declined to comment on the financial terms of the detail, but noted that Nike chose not to match Adidas’s offer.

Lin has also stated that there will public appearances and tours throughout Asia, and that although he will not have his own shoe line, he will have a say in product development and design for Adidas.

Lin’s major appeal lies in Asia, especially in China and Taiwan, because he is of Taiwanese descent. Adidas hopes to use this appeal to shoot in front of its competitors to take control of a booming sportswear market in China. As of July, Adidas held 11% of the Chinese sportswear market, just shy of Nike’s 12%. But Adidas still has a long way to go if it wants to compete with Nike in the global shoe market, especially in the US, where Nike holds 90% of the revenue between its Nike and Jordan products, while Adidas holds a mere 5%.

In signing with Adidas, Lin will be joining teammate Dwight Howard, former MVP Derrick Rose, last season’s NBA Rookie of the Year Damian Lillard, and rising star John Wall as official endorsers of the German sportswear company.

Lin has already shown dedication to his new company, as he posted a clip that reveals that he has the Adidas “three stripes” logo shaved into his head.