Adidas confirm Reebok may be sold off

Adidas confirm Reebok may be sold off

Adidas confirm Reebok may be sold off

In Irish fashion news, Adidas have confirmed that they be willing to off-load their other sports label Reebok.

The German sports company who sponsors major shirts deals with some of the biggest soccer and sporting clubs in the world have admitted in a press statement that they are actually exploring the possibility of selling the sports label Reebok.

Adidas which was founded back in Herzogenaurach, Germany back in 1949 have confirmed the speculation that they have begun to assess strategic alternatives for their Reebok label that may see the full or part sale of Reebok as part of a new their 5 year strategy will be be announced in March 2021..

Adidas purchased the sports label in 2006 for just over €3 billion euros in an attempt seen by others in the business to build a platform in the states to rival their competitors, NIKE.

Reebok which was found in the North of England back in 1958 has had great success in the American sports market place.

Unfortunately for Adidas, the take-over of Reebok didn’t have the impact as first though with pressure now on Adidas to off-load the loss making Reebok label

Adidas did however invest heavily in the Reebok label and drafted in well-known celebrities faces such as Cardi B, Ariana Grande and Gigi Hadid as brand ambassadors for their Reebok label.

There was a glimmer of hope for Reebok that after years of making a loss since the adidas acquisition they turned revenue into the back in 2018 but this was quickly wiped out during the COVID-19 Pandemic which also affected Adidas’s own global revenue figures.

In a media statement released by Adidas the German sports giant has officially confirmed rumours that have been circulating since October their Reebok company may now be sold.

Some stock market speculators are now predicting that Adidas may off-load Reebok for less than a third of the price they originally paid for the sports label in 2006.

Workers at Reebok will have to wait until March of next year to find out exactly what adidas plan to do with their label and what impact it will have on the brand and their employees.

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