Shoe Enterprise News: Adidas Will Sell Reebok Brand

On February 16, Adidas, a German sportswear brand, announced that it was preparing to get rid of the dilemma of Reebok brand. At present, it has started the formal process of divestment from Reebok, focusing on its core brands. Details will be released on March 10, and Adidas will report that Reebok has ceased operations from the first quarter of 2021.

"After careful consideration, we have come to the conclusion that Reebok and Adidas will be able to better realize their growth potential with each other," Kasper rorsted, Adidas chief executive, said in a statement. We will work hard over the next few months to ensure a successful future for the Reebok brand and the team behind it. "

Adidas did not specify the reason for the move, nor did it say whether it plans to spin off Reebok into an independent company or to sell it completely. The company said on Tuesday it had developed a new five-year strategy, which involves "further strengthening the adidas brand's leading position in the global sporting goods market.".

In order to better compete with Nike, Adidas bought Reebok for about $3.8 billion in 2006, but the sales of the brand in recent years have been disappointing.

Reebok has been trying to position itself in recent years as a highly athletic player with high profile partners in UFC and crossfit. Reebok's recent collaboration with celebrities such as Cardi B, as well as its focus on women's wear, makes it in a good position.

According to sources, Reebok's valuation may reach $1 billion.

Since Adidas confirmed the sale, several interested buyers have emerged, including rapper Percy Miller and retired NBA star Barron Davis.