Adidas sells Reebok for a refund

Frankfurt, Germany /

German sports brand Adidas On Tuesday, it announced the sale of its US branch Reebok, In difficulties for years.

AdidasI decided to initiate a formal Reebok divestment processAs part of prof Five-year recovery planThe group said in a statement.

The text does not mention any potential buyers It only indicates that more details will be announced at the March 10th meeting.

The group indicated that it will focus its recovery efforts on the brand Adidas.

After a deep reflection, We figured Reebok and Adidas would be able to improve dramatically Its growth strength independently, ”explained the head of the multinational company, Casper Rorsted.

“We will work hard in the coming months to ensure a successful future for the Reebok brand and the team that supports it,” he explained.

Adidas I buy ReebokBased in Boston (Northeastern USA) In 2006 for $ 3.8 billionWith the aim of enhancing its efficiency with Nike.

But Reebok She never gained her financial independence, despite collaborating with celebs from the world of art such as Victoria BeckhamAnd the Cardi B. The Ariana Grand.

The brand is currently valued at around 800 million euros (About $ 973 million) after successive cuts.

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