Headlines

Adidas to Sell Reebok to Authentic Brands Group

The sale is estimated at up to $2.36 billion and will close in early 2022

Published

2 years ago

December 21, 2021

Adidas to Sell Reebok to Authentic Brands Group — Shutterstock

German footwear brand Adidas (Herzogenaurach, Germany) has entered into a definitive agreement to sell Reebok to Authentic Brands Group (ABG) for up to 2.1 billion euro, or $2.36 billion U.S., according to a press release. The sale is expected to close during the first quarter of 2022.

“Reebok has been a valued part of adidas, and we are grateful for the contributions the brand and the team behind it have made to our company. With this change in ownership, we believe the Reebok brand will be well-positioned for long-term success,” said Kasper Rorsted, CEO of adidas AG in a statement.

Adidas bought Reebok in 2006 and launched a 2016 effort to turnaround the brand, which resulted in improved growth and profitability. In February of 2021, Adidas formally announced plans to divest Reebok to focus on strengthening its eponymous brand.

Related Topics:Adidas authentic brands group reebok

click to Comment(Comment)

Up Next

JCPenney Offers Same-Day Delivery in Select Markets

Don't Miss

Chipotle to Open Drive-Thru-Only Location

MasterClass: ‘Re-Sparkling’ Retail: Using Store Design to Build Trust, Faith and Brand Loyalty

HOW CAN WE EMPOWER and inspire senior leaders to see design as an investment for future retail growth? This session, led by retail design expert Ian Johnston from Quinine Design, explores how physical stores remain unmatched in the ability to build trust, faith, and loyalty with your customers, ultimately driving shareholder value.

Presented by:
Ian Johnston
Founder and Creative Director, Quinine Design