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Adidas has announced its wish to sell Reebok



The German giant specializing in sports goods has been getting rid of its own brand Reebok since 2006.
Reebok

Rumors about a possible sale have already appeared on the network several times. It all began in 2016, when Kasper Rorsted, who took over as CEO of Adidas, began closing some lower-cost Reebok stores and allowing the expiration of some license agreements. Rorsted himself subsequently repeatedly denied Reebok's sale, the general public believes that the brand (which was not profitable) does not enjoy much love among the Adidas management.

The brand finally regained profitability by early 2019; Rorsted expressed the hope that it would now be possible to ensure sales growth through new shoe lines - CrossFit Nano and FloatRide Run. He compared the company's management with a parent who loves both his children equally.

When the Coronavirus Pandemic began, Reebok was suffering even more than the Adidas brand. While the German label's sales fell 33% in the second quarter, Reebok's revenue dropped 42% in the same period. As a result, the idea of selling the brand, which had become unloved again, came up also.

The German business publishing house Manager Magazin learned about this information from a person close to the company who wished to remain anonymous. According to him, the process has already been launched but is still in its initial stages. Among possible buyers are the American company VF Corp., which owns brands Timberland and North Face, as well as Chinese Anta International Group Holdings.

As for the cost, there are doubts that Rorsted will be able to request more than $2 billion for Reebok. For comparison, in 2006, the English brand had absorbed $3.8 billion.

Journalists appealed to Adidas representatives, but they refused to disclose any details, saying that the company does not comment on market rumors.

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