Frankfurt, Germany
The German sports brand Adidas announced the sale of its US subsidiary on Tuesday Reebok, in trouble for years.
Adidas has decided to initiate a formal divestment process of Reebokas part of a five-year recovery planthe group said in a statement.
No potential buyers are mentioned in the text It just indicates that more details will be announced at a meeting on March 10.
The group indicated that it would focus its recovery efforts on the brand Adidas
“After careful thought, we have concluded that Reebok and Adidas will be able to improve significantly are independent, ‘explained the president of the multinational, Kasper Rorsted
“We will work hard in the coming months to ensure a successful future for the Reebok brand and the team that supports it,” he explains.
Adidas I buy Reebokbased in Boston (Northeastern United States) in 2006 for $ 3.8 billion, with the aim of strengthening its competence with Nike
But Reebok has never acquired its own financial autonomy, despite collaborations with celebrities from the art world such as Victoria Beckham Cardi B The Ariana Grande
Currently, the brand is valued at approximately 800 million euros (about $ 973 million), after successive devaluations.