Since launching in 1999,EXOS has been working in partnership with apparel and footwear manufacturer adidas. That long-standing business relationship will be extended a bit further -- all the way through 2021 -- based on the parties coming to terms on an expanded agreement.
EXOS will receive payment from adidas in exchange for the services that the health and performance company provides, which is focused on creating value for all of adidas' key business units across four different categories: (1) product development with access to EXOS' clientele; (2) helping adidas' business units deploy assessment and true personalization; (3) generating content; and (4) providing access to the EXOS facilities and specialists.
While each party to the transaction will benefit by way of the association, EXOS at least must acknowledge that extending its partnership with adidas could rub adidas' competitors and some of EXOS' potential clientele the wrong way. Nike remains the global leader in the shoe and apparel business, and is the outfitter of choice for many professional athletes whom use any one of EXOS' 400 locations worldwide.
The possibility of excluding some athletes from its facilities has not presented a big enough roadblock to preclude EXOS from pushing forward with its relationship. It is without a doubt that the company has weighed the positives and negatives of extending its deal, something that any entrepreneurial firm must do whether or not the receipt of guaranteed money is a component of the transaction, and determined that the partnership still fits within its overall strategy.
"Our EXOS performance team always has and will wear adidas," explains EXOS CEO Dan Burns. "The biggest impact isn't about what our athletes are wearing, but the insight and feedback to the adidas business unit."
To date, EXOS worked with adidas only on special projects or specific areas within adidas' business. Now, EXOS will work across adidas' five main areas: training, running, basketball, soccer and "heartbeat sports," which are defined as passion sports within each local market.
"We power athletes from the inside out, and we always say adidas powers athletes from the outside in," says Burns. "As there is more and more ways to track data in real-time based on performance, more and more is to be embedded in products. The more data we have, the more prescriptive we can be in generating programs for our athletes.
Working together since EXOS' launch in 1999, the two companies have supported a variety of projects for athletes and consumers, as well as each company's employees. Projects completed in collaboration with EXOS include adidas' adiPure, Techfit and miCoach product lines, as well as content for miCoach and other channels.