Adidas intends to focus on further strengthening the brand’s leadership position without a subsidiary.
The German sportswear and accessories group Adidas announced on Tuesday, February 16, the beginning of the sale of its subsidiary Reebok. About it reported in the company’s press release.
“As part of developing its new five-year strategy, Adidas has completed an assessment of strategic alternatives for Reebok. As a result, the company has decided to begin a formal process to market Reebok. Going forward, the company intends to focus on further strengthening Adidas’s leadership position in the global sportswear market.” – the message says.
From the first quarter, the Reebok division will be designated as an asset held for sale in the financial statements of Adidas.
Adidas CEO Kasper Rorsted said Adidas and Reebok will be able to realize their growth potential significantly better independently of each other.
Adidas acquired Reebok in 2006.
Adidas AG was founded in 1924 by Adolf Dassler.
In 2019, the European Court of General Jurisdiction refused recognize the adidas logo a trademark protected by EU law.
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