Adidas Selling Reebok To Focus On Own Brand
ADIDAS SAYS IT WILL OFFLOAD STRUGGLING US FITNESS BRAND REEBOK AS PART OF A STRATEGIC OVERHAUL
(CNN) – Adidas says it will sell Reebok as part of a strategic overhaul.
The German company paid $3.8 billion for Reebok in 2006.
Back then, the American sportswear company had deals with the NBA and NFL, which Adidas thought could help expand its reach in the U.S.
Reebok frequently underperformed for Adidas until a turnaround plan in 2016 returned it to profitability.
That was short-lived and by 2018, Reebok had once again become an albatross for the company.
Adidas hasn’t said if it plans to sell the Reebok brand outright or spin it off as its own public company.