adidas Formally Announces Plans To Sell Reebok

In breaking news, German sportswear giant adidas has officially announced plans to sell its underperforming Reebok brand, which it acquired 15 years ago for $3.8 billion USD.

According to Reuters , as part of its five-year strategic plan, adidas has already begun a formal process to divest its Boston-based subsidiary Reebok. adidas will report Reebok as a “discontinued operation” from the first quarter of 2021 on March 10, and will additionally publish its 2020 results.

“Reebok and adidas will be able...

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