The German manufacturer of articles Sports Adidas has informed this Tuesday that it will sell the brand Reebok as part of its new strategy for the next five years.
Adidas said in a statement that it has studied the alternatives strategies for Reebok and that it has decided to start the sales process due to to its weak results.
Adidas CEO Kasper Rorsted believes that both brands are more likely to grow separately and will be concentrated in the German brand.
In December, Adidas had said that “as part of the development of its new strategy for the next five years has begun to analyze strategic alternatives for Reebok, “which included both selling it, how to keep it as part of the company.
Adidas to announce details of decision to sell on March 10 2021, when you present the new strategy. The Reebok brand that Adidas acquired in 2006 for about 3.1 billion euros (3.755 million dollars at the current exchange rate) to be able to compete better against Nike, it has not given the expected profitability and for a long time I also wanted to clean it up, although its sale was also rumored, option for which in the end it has been decided.