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Report: Adidas Is Preparing To Sell Struggling Reebok Brand



  • Adidas plans to complete the sale by March 2021, the report said, without naming sources.

  • The company reportedly has an internal team working on the deal who have signed confidentiality agreements.

  • While Adidas CEO Kasper Rorsted had hoped to offload Reebok for around €2 billion ($2.4 billion) before the pandemic, the company may have to settle for less now, the report added.

  • According to Manager Magazin, parties interested in buying Reebok include VF Corp., which owns the Timberland and North Face brands, as well as China’s Anta International Group Holdings.

  • Adidas’ shares jumped by around 3.2% following the report.

  • An Adidas spokesperson told Bloomberg that the company doesn’t comment on market rumors.

Boston-headquartered Reebok was the world’s third-largest sporting goods brand before it was acquired by Adidas for $3.8 billion in 2006. Adidas had bought Reebok to better compete with its American rival and market leader Nike. A slump in Reebok’s sales in recent years, however, has seen activist investors demand that Adidas sell the loss-making brand.

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