Adidas to divest Reebok and focus on core brand
Adidas, largest sportswear manufacturer in Europe, in its drive to achieve the potential of its new five-year strategy, the brand Germany-based group has concluded its assessment of strategic alternatives for Reebok. As a result of the review, Adidas has decided to begin a formal process aimed at divesting Reebok.
Adidas CEO Kasper Rorsted stated that, “The long-term growth opportunities in our industry are highly attractive, particularly for iconic sports brands.
After careful consideration, we have come to the conclusion that Reebok and Adidas will be able to significantly better realize their growth potential independently of each other. We will work diligently in the coming months to ensure a successful future for the Reebok brand and the team behind it.”
Going forward, Adidas intends to focus its efforts on further strengthening the leading position of the Adidas brand in the global sporting goods market. Accordingly, Adidas is going to report Reebok as discontinued operations from the first quarter of 2021 onwards.
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