‘Adidas wants to get rid of Reebok’ | Financial

The group bought Reebok in 2005 for nearly $ 4 billion, with the aim of defeating the American arch-rival Nike on its own territory. Although founded in the United Kingdom, Reebok’s head office has been in Boston, USA for years.

But little came of the ambitions. Last year, Adidas even had to cut Reebok’s book value almost in half, to just under $ 1 billion. The corona crisis did not make things much better this year. In the second quarter, sales of Reebok plummeted 44 percent from a year earlier.

Interest

According to Manager Magazin, Adidas plans to arrange the sale by March next year. Interest has already been shown in Reebok, by, among others, the American VF Corp and the Chinese Anta Sports. Adidas declined to comment on the report to the magazine. Other parties were not available for a response.

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