adidas to sell Reebok and focus on core brand
As part of the development of its new five-year strategy, the Germany-based group has concluded its assessment of strategic alternatives for Reebok. As a result of the review, adidas has decided to begin a formal process aimed at divesting Reebok
“The long-term growth opportunities in our industry are highly attractive, particularly for iconic sports brands”, commented adidas CEO Kasper Rorsted, adding: “After careful consideration, we have come to the conclusion that Reebok and adidas will be able to significantly better realize their growth potential independently of each other. We will work diligently in the coming months to ensure a successful future for the Reebok brand and the team behind it.”
Going forward, adidas intends to focus its efforts on further strengthening the leading position of the adidas brand in the global sporting goods market. Accordingly, adidas is going to report Reebok as discontinued operations from the first quarter 2021 onwards.
adidas acquired Reebok in 2006.
adidas acquired Reebok in 2006.
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