Adidas Considering Reebok Sale

By  |  0 Comments
Share Button

UNITED KINGDOM — It is being reported that German¬†sportswear, sneaker and apparel giant Adidas is considering selling Boston-based¬†athletic footwear and apparel company¬†Reebok.

U.S.-based banking and private equity sources have been buzzing that the oft-rumored divestiture could be coming sooner rather than later, with Adidas said to be mulling options and potentially laying out its intentions at its investor day in March.

Shares of Adidas rose 2.9 percent to 282.10 euros in Frankfurt Thursday on multiple reports that the company was exploring the possibility of a sale. A spokeswoman for Adidas declined to comment.

Adidas brought Reebok for 3.1 billion euro in 2006, and the sale will most likely be a big one.

Reebok’s sales rose 3.6 percent to 1.75 billion euros last year, but were down 27.3 percent to 600 million euros in the first half of this year as the coronavirus shut down retail, particularly hard in the U.S. and Europe.

That pandemic decline was in line with the drop at the larger Adidas brand, which fell 26.9 percent to 7.56 billion euros in the first half.

Photos Credit: Courtesy

Source: WWD

Share Button
Donovan

Donovan is the CEO and Editor-In-Chief of www.dmfashionbook.com. For all general inquiries please email don@dmfashionbook.com Donovan has a BA in Journalism & Media Studies from the prestigious Rutgers University. He's currently studying entertainment and fashion law.