For those who did not know, Adidas owns Reebok. The three stripes acquired Reebok back in 2006 for $3.8 billion USD. Now 14 years after owning the brand, Adidas is trying to sell it according to Forbes.
Reebok’s lackluster sales in recent years and failure to properly restructure the brand has forced Adidas to want to sell it. Adidas was looking to sell Reebok for $2.4 billion before the COVID-19 pandemic but may have to settle for less now as a result of it.
Adidas is looking to sell Reebok by March 2021. After the report leaked to the public, Adidas shares jumped 3.2%. Adidas has declined to comment on the recent report.
Do you think Adidas should sell Reebok?
Loading ...