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.

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