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Adidas Evaluates Selling Brand Reebok Sporting Goods | ECONOMY

The company will decide in the coming months whether to proceed with a sale process, said the person, who asked not to be identified because the deliberations are private. The internal review is in the early stages, the person said.

A spokeswoman for adidas He said the company does not comment on market rumors.

Since assuming the position of executive leader of adidas in 2016, Kasper Rorsted has repeatedly rejected rumors that he wanted to sell the brand. closed shops reeboks underperformers and let some licensing deals expire, slashing sales for the fading sports brand but further cutting spending.

After what reeboks finally returning to profitability in early 2019, Rorsted expressed hope that he could boost sales with new shoe lines like the CrossFit Nano and FloatRide Run. He compared the supervision of Adidas and Reeboks with being like a father who loves his two children equally.

reeboks has suffered more than the brand adidas during the pandemic. Sales at the German brand fell 33% in the second quarter, while revenue from reeboks decreased 42%, the company said.

Manager Magazin reported on the plan early Thursday, saying interested parties include VF Corp., which owns the Timberland and North Face brands, as well as China’s Anta International Group Holdings.

Rorsted expected about 2 billion euros ($2.4 billion) from the sale of reeboks before the pandemic, but would be content with less now, according to the magazine.

The German company acquired reeboks for US$3.8 billion in 2006.

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