Adidas studies various options for its subsidiary Reebok, including the sale | ECONOMY
The German sports giant adidas stated that the sale of Reebok, its US subsidiary currently in financial difficulties, is among the options it is considering for the future of this brand.
Adidas, main competitor of Nikeindicated in a statement that “strategic alternatives” for Reebok are being analyzed, which include “sale and maintenance” in the group.
The German manufacturer acquired reeboks in 2006 for 3,100 million euros (US$3,800 million).
In the official presentation of the new Adidas strategy, on March 10, the executive director of the brand, the Danish Kasper Rorsted, will announce the decision.
US textile manufacturer VF Corp and China’s Anta Sports sound like possible candidates interested in the purchase, the German business magazine “Manager Magazin” reported in October, without citing sources.
Since its acquisition by the German company, Reebok, which specializes in women’s sportswear, has always been seen as a troubled subsidiary within the group.
The brand is only worth 803 million euros ($972 million) on the group’s balance sheet, after several writedowns.
Reebok’s revenue rose 2% in 2019 to 1.75 billion euros ($2.12 billion), a small part of the 23.6 billion euros ($28.5 billion) for the Adidas group as a whole.