Financial News
Written by: Zhang Weilun
2020-10-23 10:00
Last update date: 2020-10-23 10:01
The German sports brand giant Adidas intends to sell the Reebok brand. Anta Sports (2020) intends to bid?
German Lizhi "Manager magazin" reported that Adidas intends to sell Reebok to get rid of this long-term underperformance American brand.
The report also pointed out that both American apparel group VF Corp and Anta are interested in Reebok.
Kasper Rorsted, Chief Executive Officer of Adidas, hopes to complete the sale of Reebok's arrangements before the end of March next year.
Adidas declined to comment on the above news. VF and Anta did not respond to queries.
Adidas acquired Reebok for US$3.8 billion in 2005, hoping that it could become Nike’s main rival, but Reebok has been performing poorly, with revenue falling 44% in the second quarter of the current fiscal year.
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