Frankfurt, Germany /
The German sports brand Adidas announced on Tuesday the sale of its US subsidiary Reebok, In difficulties for years.
Adidas “has decided to begin a formal divestment process on Reebok“As part of a five-year recovery plan, The group said in a statement.
The text does not mention any potential buyers and merely states that more details will be announced at a meeting on March 10th.
The group indicated that it will focus its recovery efforts on the brand Adidas.
“After careful thought, we have come to the conclusion that Reebok and Adidas will be able to improve significantly its power of growth independently “, explained the president of the multinational, Kasper Rorsted.
“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.
Adidas bought Reebok, Based in Boston (northeast United States) in 2006 for $ 3.8 billion, With the aim of strengthening its competition with Nike.
But Reebok he never gained his own financial autonomy, despite collaborations with celebrities from the art world such as Victoria Beckham, Cardi B He Ariana Grande.
The brand is currently valued at about 800 million euros (About $ 973 million), after successive devaluations.
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