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Adidas agrees to sell Reebok to Authentic Brands Group

Adidas has announced that it has entered into a definitive agreement with Authentic Brands Group (ABG) to sell Rebook for a total consideration of up to €2.1 billion, with the majority to be paid in cash at closing of the transaction and the remainder comprised of deferred and contingent consideration.

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Final bid submission deadline named for Reebok sale

The German sportswear brand Adidas has drawn up a shortlist of bidders for its Reebok brand, news agency Reuters has reported. According to sources close to the matter, the investments proposed did not match Adidas’ expectations.

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Adidas launches Reebok auction

The German sportswear brand has begun the sale of its Reebok brand in an auction, news agency Reuters has reported. Three sources told the agency that the auction risks being affected by a political disagreement over possible forced labour in China’s western Xinjiang region.

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Experts respond to U.S. ban on kangaroo leather

The U.S. congress is considering banning the import and sale of kangaroo parts. Backed by a campaign called ‘Kangaroos Are Not Shoes’, the bill aims to stop the likes of Nike, Adidas and other brands from using kangaroo leather in their products. The decision has provoked an outcry by conservation experts.

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Adidas sees recovery in third-quarter

The global sportswear manufacturer said its top- and bottom-line results for the third quarter were close to prior year level, with the e-commerce channel growing 51% on a currency-neutral basis.

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Adidas business in China returns to growth

The global sportswear manufacturer said that, throughout May, it continued to execute its store reopening plan around the world and Greater China is the company’s first major market on the road to recovery, with all own- and partner-operated stores having been open since mid-April.

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