adidas Sale of Reebok Could Fetch Only $1 Billion USD

Almost $3 billion USD less than the initial acquisition price.

Footwear 
14,000 Hypes 9 Comments

Though adidas‘ sale of Reebok is only in its operational phase, the major German sportswear giant could net just only $1 billion USD. The amount is nearly $3 billion USD less than the original acquisition price of $3.8 billion USD in 2005.

adidas is reportedly ready to begin considering offers next week. Companies interested in the purchae include Chinese groups, Anta Sports and Li-Ning, as well as Korean Fila and American player, Wolverine World Wide which already produces footwear for Harley-Davidson and Caterpillar. Other contenders include, Private TPG Capital, Sycamore Partners, Cerberus Capital Management and Apollo Global Management.

In 2020, Reebok reported a record drop in sales of more than 19 percent, falling to $1.69 billion USD from $3.62 billion USD. Last February, CEO of adidas, Kasper Rorsted said, “After careful consideration we have come to the conclusion that Reebok and Adidas will be able to reach their growth potential by operating independently of each other. We will work diligently over the next few months to ensure a fruitful future for the Reebok brand and the team that supports it.”

There is currently no further news on which company is the front runner for purchasing Reebok.

In other fashion news, Hood By Air establishes a new dress code in second “Veteran Collection” drop.

Read Full Article

What to Read Next

GameStop Rises Following $1 Billion USD Stock Sale
Tech

GameStop Rises Following $1 Billion USD Stock Sale

Turning memes into dreams.

adidas Sells Reebok to Authentic Brands Group for $2.5 Billion USD
Footwear

adidas Sells Reebok to Authentic Brands Group for $2.5 Billion USD

The deal is expected to close during the first quarter of 2022.

Tesla's Quarterly Profit Surpasses $1 Billion USD
Automotive 

Tesla's Quarterly Profit Surpasses $1 Billion USD

10x last year’s reported earnings.


Chrono24 Online Watch Marketplace Gets  Over $1 Billion USD Valuation
Watches

Chrono24 Online Watch Marketplace Gets Over $1 Billion USD Valuation

With the help of LVMH’s Bernard Arnaults technology arm Aglaé Ventures.

Watch the Opening Scene From 'Spiral: From the Book of Saw'
Entertainment

Watch the Opening Scene From 'Spiral: From the Book of Saw'

“Live or die, make your choice.”

Chick-Fil-A Is Now Facing a Sauce Shortage
Food & Beverage

Chick-Fil-A Is Now Facing a Sauce Shortage

Customers can expect just one dipping sauce with their order.

The Official Trailer for 'The Forever Purge' Is Filled With Violence
Entertainment

The Official Trailer for 'The Forever Purge' Is Filled With Violence

The final installment in the franchise.

J. Cole Delivers Unmatchable Bars in First Ever 'L.A. Leakers' Freestyle
Music

J. Cole Delivers Unmatchable Bars in First Ever 'L.A. Leakers' Freestyle

Freestyling over the classics “93 ‘Til Infinity” and “Still Tippin.’”

Elon Musk Says Tesla Will No Longer Accept Bitcoin as Payment for Vehicle Purchases
Automotive

Elon Musk Says Tesla Will No Longer Accept Bitcoin as Payment for Vehicle Purchases

The announcement comes just three months after Tesla purchased $1.5 billion USD in Bitcoin.


Nicki Minaj Teases New Music, Shares Rare Richard Mille Watch and Causes Crocs Site to Crash
Music

Nicki Minaj Teases New Music, Shares Rare Richard Mille Watch and Causes Crocs Site to Crash

Fans rush to pick up pink Crocs.

Lil Wayne Charts on Billboard Hot 100 for 17th Straight Year
Music

Lil Wayne Charts on Billboard Hot 100 for 17th Straight Year

As his collaboration with DJ Khaled and Jeremih open at No. 100 on the chart.

Nike Golf's Seersucker-Inspired Air Max 90 G and Air Zoom Infinity Tour Are Full of Classic Charm
Footwear

Nike Golf's Seersucker-Inspired Air Max 90 G and Air Zoom Infinity Tour Are Full of Classic Charm

Dapper stripes, peachy accents and palmetto tree prints abound.

Hood By Air Establishes A New Dress Code in Second 'Veteran Collection' Drop
Fashion

Hood By Air Establishes A New Dress Code in Second 'Veteran Collection' Drop

Defining the dress code of HBA’s future.

'Legends of the Hidden Temple' Adult Reboot is Coming to the CW
Entertainment

'Legends of the Hidden Temple' Adult Reboot is Coming to the CW

Olmec, the Temple Run and moat crossings return.

More ▾
 
Subscribe to our Newsletter

Gain access to exclusive interviews with industry creatives, think pieces, trend forecasts, guides and more.

By subscribing, you agree to our Terms of Use and Privacy Policy.

Adblock Detected.

We charge advertisers instead of our readers. If you enjoy our content, please add us to your adblocker's whitelist. We'd really appreciated it.