// Adidas to sell Reebok after buying the brand in 2006
// The retailer aims to focus on its eponymous products
// Possible buyers include Timberland and North Face owner VF Corp, as well as China’s Anta International
Adidas has confirmed plans to sell Reebok after acquiring the brand 15 years ago, as it embarks on a new five-year strategy.
The German sportswear giant said it aims to focus on its eponymous products.
Adidas bought Reebok in 2006 for $3.8 billion (£2.7 billion) and is now weighing options for the brand, which is thought to be worth about $1.2 billion (£864 million).
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Adidas will unveil a new strategy on March 10 but has already said it wanted to focus its efforts on further strengthening the leading position of the Adidas brand.
“Reebok and Adidas will be able to significantly better realise their growth potential independently of each other,” Adidas chief executive Kasper Rorsted said.
“We will work diligently in the coming months to ensure a successful future for the Reebok brand and the team behind it.”
Possible buyers include Timberland and North Face owner VF Corp, as well as China’s Anta International.
Since joining the company, Rorsted has dismissed speculations that he wanted to sell Reebok.
He has closed under-performing Reebok stores and allowed some licensing deals to expire, dampening sales at the struggling sporting label.
After Reebok returned to profitability in 2019, Rorsted sought to help it generate sales growth with new footwear lines such as the CrossFit Nano and the FloatRide Run.