Reebok eyed by Forever 21 owner for £704m takeover

Reebok Adidas Authentic Brands Group
Adidas had bought Reebok in 2006 to better compete with top rival Nike
// Reebok is eyed by US company Authentic Brands Group
// Authentic Brands currently owns Forever 21, Brooks Brothers, and Juicy Couture
// Adidas, which currently owns Reebok, is weighing options for the brand

Forever 21 owner Authentic Brands Group is considering purchasing Reebok in a $1 billion (£704 million) deal.

British footwear brand Reebok was bought by fellow sportswear company Adidas in 2006 for $3.8 billion (£2.7 billion).

Adidas confirmed in February that it was weighing options for Reebok after shifting its focus on its eponymous products.

READ MORE: Adidas confirms plans to sell Reebok

Adidas had bought Reebok to better compete with top rival Nike.

The retailer is expecting offers from the Chinese groups, Anta Sports, which acquired Amer Sports – the owner of the Salomon and Arc’Teryx brands – in 2019, and Korean-owned Fila.

US company Authentic Brands also owns Aeropostale, Brooks Brothers, Juicy Couture, Nine West, and Airwalk.

Last year, Reebok’s sales declined by 19 per cent to €1.4 billion (£1.2 billion).

Adidas had previously considered selling Reebok for a sum of €1.7 billion (£1.5 billion) in 2014, with possible buyers at the time including a Thai mogul and Emirati investment funds.

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