Adidas Puts Reebok Up for Sale to Focus Exclusively On Its Brand
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Derived from difficulties for years, Adidas announced on Tuesday the sale of its US subsidiary Reebok. Through a statement, the German brand said that it had decided to start a formal divestment process in Reebok as part of a five-year recovery plan.
There is no information on any potential buyers, but the company is expected to announce more details at a meeting on March 10.
"After careful reflection, we have concluded that Reebok and Adidas will be able to significantly improve their growth power independently," explained the president of the multinational, Kasper Rorsted through the document.
"We will work diligently in the coming months to ensure a successful future for the Reebok brand and the team that supports it," he explained.
Reebok is valued at about 973 million dollars, after successive devaluations.