Adidas hasn't got a lack of innovation. They have too many technical innovations!
What they lack is focus and marketing direction. They also need the leadership to stick with one innovation story for many years while improving the technology.
Technical Innovation alone doesn't sell more products. It needs to be backed up by innovative marketing, retail, ecom etc.
I totally agree with this. However, I don't know if their marketing strategies will ever be able to compete with those of their biggest rival.