Dec 14, 2020
Adidas considers selling off its Reebok brand
Adidas, the German sportswear giant, said it had started looking at whether to keep its Reebok brand or sell it. The company paid $3.8bn for Reebok in 2006 and a number names have emerged as potential buyers including the private equity firm Permira and Timberland brand owner, VF Corp. Permira owns the Dr Martens footwear company. Figures show Reebok's revenue grew by 4% to at €1.7bn in 2019, making up just 7% of Adidas' total annual sales. Reebok once held major sponsorship deal with the US's lucrative National Basketball Championship but that was assumed by Adidas when it took over Reebok. Reebok's headquarters are in Boston, Massachusetts, but its roots are in Bolton, England, where the Reebok name was first employed in the 1950s, before being picked up by a US entrepreneur.
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