adidas Is Reportedly Looking To Sell Reebok
Following a Q2 2020 earnings report that noted Reebok revenues down 42 percent.
According to reports, adidas is now reportedly looking to sell Reebok. adidas purchased Reebok back in August 2005 for $3.8 billion USD and has brushed away news of selling the division for years as investors continually called for the brand to be sold.
Reports are noting that the German sportswear company has assembled an internal team to actively pursue reaching a deal to sell the subsidiary by March 2021. Rumors are also noting that front runners for the potential acquisition are China’s ANTA Sports and the VF Corporation which owns Timberland, Vans and The North Face. The news comes after adidas’ Q2 2020 earnings report that revealed revenue generated by Reebok was down 42 percent amidst the Coronavirus pandemic.
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