Adidas starts formal sales process Reebok

Sporting goods manufacturer Adidas is preparing to separate from its American subsidiary Reebok. A formal sales process is underway, the company announced Tuesday. In the future, Adidas wants to focus entirely on its own brand with the well-known three stripes. The group has concluded “that Reebok and Adidas can significantly better exploit their growth potential independently of each other,” said CEO Kasper Rorsted. The price of the Adidas stock had little effect on the net profit.

Adidas had announced in mid-December that it was considering a sale of Reebok as part of the development of its new five-year strategy. The American brand has been subject to restructuring for years. The company has never been able to meet the high expectations associated with its acquisition in 2006. Recently, Adidas had completely refocused the brand on fitness. Rorsted has said repeatedly that he wanted to redevelop Reebok himself. However, there has been speculation for years about a sale that may actually end now, with the start of the formal sales process.

Adidas will present its future strategy up to the year 2025 on an investor day on March 10. (DPA)

This article was previously published on FashionUnited.DE, then translated and edited into Dutch by Ilona Fonteijn.

Picture: Reebok

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