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Following the news of shares in German sportswear firm Adidas AG jumping on October 20 after the Wall Street Journal reported that an investor group that includes Jynwel Capital and funds affiliated with the Abu Dhabi government planned a $2.2 billion (£1.36 billion) bid to buy Reebok.
"While the deal may appease Adidas investors looking for some quick and easy liquidity, it would be something of an admittance if defeat in Adidas's global and North American strategy. The US$2.2bn being quoted lies some way short of the US$3.8bn paid by Adidas in 2006. Reebok is also one if the few brands enjoying some success for Adidas lately, with the five consecutive quarters of growth achieved by Reebok coming in stark contrast to the underperformance of other divisions”, says Jon Copestake, Retail Analyst at The Economist Intelligence Unit.
The failure to secure NHL and NFL deals will definitely weigh on Reebok's strategic value given that Adidas had hoped it would provide a much firmer springboard into North America. But, despite the short term gain, the sale will effectively be ending Adidas's interest in a number of fitness and health markets that have been growing quickly in North America. This could have longer term implications for the German firm”, said Copestake.