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.

The situation will cause factories to stop and more costs. There will be manufacturers of technological devices that will launch fewer Read more

Europe's emissions trading has become a speculative market, where funds and investors want to make a killing. Just a year Read more

The purchase of Athene clarifies its relationship with the insurance company, but obscures the value of the rest of its Read more

The bankruptcy of the financial company highlights the risks of helping companies pay their suppliers

The bankruptcy of the financial company highlights the risks of helping companies pay their suppliers The supply chain finance party Read more

Samsung overtakes Intel to become the world's largest chipmaker Samsung Electronics Co Ltd is considering two sites in Arizona and Read more

Renault reduced its turnover by 21.7% in 2020, to stand at 43,474 million euros, compared to 55,537 million euros in Read more

Airbus expects aircraft deliveries to be stable after 2020 losses

Airbus expects aircraft deliveries to be stable after 2020 losses Airbus recorded losses of 1,133 million euros in 2020, a Read more

Tesla's investment in the China market is paying off Tesla Inc's (NASDAQ: TSLA ) sales in China doubled in one year to $ 6.6 Read more

Apparel retailers cut orders while Asian factories fight to survive Clothes retailers in Europe and America sit on excess inventory Read more

Jeff Bezos to step down as Amazon CEO Amazon.com Inc founder Jeff Bezos will step down as CEO and become Read more

Leave a Reply