Adidas set to sell off Reebok to bolster growth ambitions

By Grace Bowden2021-02-18T07:27:00

Adidas has confirmed plans to offload Reebok as part of its five-year strategy to focus on strengthening its core brand.

Adidas, which acquired Reebok for €3.1bn (£2.7bn) in 2006, is set to sell the brand after 15 years of ownership.

The Reebok brand, which was founded in Lancashire in 1958 and is now based in Bolton, is expected to sell for less than €2bn (£1.7bn) as its sales have struggled over the past year despite the boom in leisurewear and sports clothing during the pandemic.

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