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Adidas Wins Big at London Marathon as Sawe Breaks Sub-Two Barrier

Financial Times Companies •
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Sabastian Sawe broke the sub-two-hour marathon barrier at the London Marathon, delivering Adidas a landmark victory that cements the German sportswear group's return to the pinnacle of distance running after years of battling Nike. The Kenyan finished in 1:59:30, lifting his shoes to the crowd with the three stripes visible to spectators. Ethiopia's Yomif Kejelcha also wore Adidas, finishing just 11 seconds behind in his debut marathon.

The winners wore Adidas's Adizero Adios Pro Evo 3, unveiled just days before the race. In a UK size 8.5, the shoes weigh just 97 grammes and retail for $500 — the lightest and fastest Adizero shoe ever, according to the company. Shares rose 1.7% to €138.60 on Monday, giving the group a market cap of almost €25bn. The stock remains down 36% from a year ago amid investor concerns about consumer spending and the durability of the retro trainer boom that has driven recent growth.

Adidas and Nike ignored the running channel in the late 2010s and early 2020s, opening the door for newer brands like On and Hoka to capture market share during the pandemic running boom. CEO Bjørn Gulden has made rebuilding running credibility a priority beyond retro trainers like the Samba. Running sales have grown more than 30% year-over-year, helping drive record revenues of €24.8bn in 2025. The London results signal Adidas is reclaiming ground in a segment vital to its growth strategy.