Adidas puts Reebok on sale

Reebok International Limited is an Anglo-American footwear and clothing company

The German manufacturer of sporting goods  Adidas announced on Tuesday that it will sell the American brand  Reebok as part of its new strategy for the next  five years.

Adidas said in a statement that it has studied the strategic alternatives  for Reebok and that it has decided to start the sale process due  to its weak results.

Adidas CEO Kasper Rorsted believes that both  brands have more potential to grow separately and will focus  on the German brand.

In December, Adidas had said that “as part of the development of  its new strategy for the next five years it has begun to analyze  strategic alternatives for Reebok”, which included both selling it  and keeping it as part of the company.

Adidas will announce details of the decision to sell it on March 10  , 2021, when it presents the new strategy. The Reebok brand that Adidas acquired in 2006 for about 3,100 million  euros (3,755 million dollars at the current exchange rate) in order to better compete  against Nike, has not given the expected profitability and has also wanted to clean it up for a long time  , although its sale was also rumored , option  for which in the end it has been decided.

SoftBank agreed on Tuesday to pay more than 10,000 million dollars to acquire WeWork, doubling its investment and paying close Read more

Microsoft has struck the table when it won the JEDI contract (acronym for Joint Enterprise Defense Infrastructure) tendered by the Read more

Siemens Gamesa has received a conditional order to supply 140 wind turbines of its most powerful model (11 MW) to Read more

A few years ago Boeing was the most important aeronautical company on the planet. being the most important civil constructor Read more

Tesla will begin delivering the first orders of the Model Y, its new SUV compact SUV, in the first quarter Read more

General Motors has announced that it will invest 1,500 million dollars (1,350 million euros) in the new generation of ‘pick-ups’ Read more

Netflix already has 158.3 million subscribers worldwide, demonstrating its strength in the face of increasing competition. However, its biggest advantage Read more

The aircraft manufacturer Boeing (NYSE: BA) suspends the production of its 737 MAX aircraft, after not obtaining this year, as Read more

Navin Shenoy, the vice president of Intel, said in a statement that “this acquisition advances our artificial intelligence strategy, which Read more

The Starliner spacecraft, from the Boeing company, landed successfully this Sunday in New Mexico after it failed on Friday in Read more

Leave a Reply