Adidas, a German sportswear manufacturer, said that last year a total of over 1 million pairs of sneakers made of marine plastic waste were produced.
Last year, the company partnered with the marine environmental protection organization Parley for the Oceans to produce three Ultra Boost sneakers from plastic waste collected from the ocean.
The company released its fourth-quarter performance report, in which profit growth more than tripled to 132 million euros, equivalent to S$214 million. However, due to a tax of Euro 76 million, the company suffered a loss of 41 million euros. .
The company expects sales to increase by 10% this year.
The company also announced that it will buy back 3 billion shares.