Sporting goods group: Adidas sells Reebok for up to 2.1 billion euros to Americans

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24/07/2022

Sporting goods group for 2.1 billion euros: Adidas sells Reebok to Americans

Adidas announced that the majority of the proceeds to be received for Reebok in cash can be shaken to the shareholders.

Bild: dpa

Reebok owner Adidas sells the brand to the US company Authentic Brands.It is the end of a difficult relationship.

The US sports article group Reebok comes back to American hands.Reebok owner Adidas sells the brand to the US company Authentic Brands for up to 2.1 billion euros, as the Franconian sports clothing manufacturer announced on Thursday.The price is significantly higher than the value, with the Reebok still in the balance of Adidas.However, part of it depends on the success of Reebok in the future and will be paid later.

Sportartikelkonzern: Adidas verkauft Reebok für bis zu 2,1 Mrd Euro an Amerikaner

Authentic Brands bought a portfolio of fashion brands and strives to the New York Stock Exchange. Adidas announced that the majority of the proceeds to be received for Reebok in cash can be shaken to the shareholders.Adidas bought Reebok in 2006 for $ 3.8 billion, but officially made sale in February.

A difficult relationship ends with the sale of Reebok: Adidas had to be much more money and effort into the brand than ever predicted.Instead of buying a partner with whom the deficit against world market leader Nike could be reduced, the then boss Herbert Hainer brought a permanent patient to the portfolio: "The brand would have gone down without taking over," said a former top manager in conversationWith the Wirtschaftswoche.

“We had bought a renovation case.“Reebok was missing a clear profile, sometimes you aimed at rappers in the metropolises, then on pre -town women in the gym.As a result, shoes landed on the ripple table for $ 20.

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With the separation, the reigning Adidas boss Kasper Rorsted would like to check the topic of Reebok entirely too.More on the topic: After a long chain of errors, Adidas separates from the former hope bearer Reebok.Failure to the US brand reveals weaknesses in the top of the group around Kasper Rorsted.