Date Posted: Tuesday 23rd February 2021
adidas has confirmed that it has begun a formal process aimed at divesting Reebok. As part of the development of its new five-year strategy, adidas has concluded its assessment of strategic alternatives for Reebok. The company intends to focus on further strengthening the leading position of the adidas brand in the global sporting goods market. adidas acquired Reebok in 2006.
adidas CEO Kasper Rorsted said: “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.”
Accordingly, adidas is going to report Reebok as discontinued operations from the first quarter 2021 onwards. More details on adidas’ strategic business plan until 2025 will be unveiled at the company’s virtual Investor and Media Day on 10 March.
The DIARY directory platform provides fashion, beauty and lifestyle industry news, interviews, dates, vacancies and contacts. Our huge database of contacts includes thousands of digital influencers, media titles (UK and overseas) and their editorial teams, freelance journalists and creatives, PRs and brands and representative agencies. Live and sortable social media stats for entries allow comparative analysis and insight within filtered sections, plus additional engagement metrics for industryINFLUENCERS.
Get in touch to discover how DIARY directory membership would benefit you.