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As part of the development of its new five-year strategy, the global sportswear manufacturer said it has concluded its assessment of strategic alternatives for Reebok.
As a result of this review, Adidas said it has now decided to begin a formal process aimed at divesting Reebok. Going forward, the company intends to focus its efforts on further strengthening the leading position of the adidas brand in the global sporting goods market. Adidas is to report Reebok as discontinued operations from the first quarter 2021 onwards. “The long-term growth opportunities in our industry are highly attractive, particularly for iconic sports brands”, said Kasper Rorsted, CEO, Adidas. “After careful consideration, we have come to the conclusion that Reebok and Adidas will be able to significantly better realise their growth potential independently of each other. We will work diligently in the coming months to ensure a successful future for the Reebok brand and the team behind it.”
Adidas acquired Reebok in 2006.