When adidas bought Reebok back in 2005, many questioned just how successful the partnership would be. Over the last 15 years, it’s safe to say that things haven’t exactly gone to plan. Originally purchased as a way for Reebok to take a fair stake of the US market, adidas have been less than impressed with its performance. Well, that all looks to be changing. According to various reports, it now looks as though adidas is looking to sell Reebok.
Back in August 2005, adidas purchased Reebok for an eye-watering €3.2 billion, the investment hasn’t worked out. Reports from this year show that Reebok’s performance has been down 42% since the start of the Coronavirus pandemic. This, coupled with a decline in customer interest has left adidas looking to sell the iconic British sportswear brand altogether. As you can probably imagine, this is a pretty big loss for adidas of the course of the last decade and a half.
Rumours, however, point to that fact that China’s ANTA Sports and the VF Corporation, which own several big brands such as The North Face and Vans, is interested in purchasing Reebok, but for nowhere near the €3.2 billion adidas paid. adidas is reportedly set to sell Reebok for around €842 million, a dramatic decline from its original purchasing price. For now, keep it locked to KLEKTIVE for more updates on this industry-changing story.
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