sitemaps.org/schemas/sitemap/0.9/sitemap.xsd BrandArena: adidas considers selling Reebok

Friday, 30 October 2020

adidas considers selling Reebok

German sportswear giant, adidas is reportedly mulling the sale of its Reebok brand, the British sportswear label it acquired in 2006 for $3.8 billion.

According to emerging reports, Adidas chief executive Kasper Rorsted hope to gain €2 billion (£1.8 billion) for Reebok before the Covid-19 pandemic, but would now be content with a lower price tag.

Since joining the company, Rorsted has dismissed speculations that he wanted to sell Reebok.

Reebok has seen its total revenues drop by 42 per cent during the pandemic, compared with a one third decline for the Adidas brand.

He has closed under-performing Reebok stores and allowed some licensing deals to expire, dampening sales at the struggling sporting label.

After Reebok returned to profitability early last year, Rorsted sought to help it generate sales growth with new footwear lines such as the CrossFit Nano and the FloatRide Run.

No comments:

Post a comment