Adidas reportedly considering the sale of Reebok
German sportswear giant Adidas is reported to be consider a sale of Reebok, the British-founded sports brand it acquired in 2006.
German magazine Manager Magazin has said that interested parties in the brand include VF Corp, parent of Timberland, Vans and North Face, and Chinese firm Anta International.
The report suggests that Adidas had hoped to get €2bn for Reebok before the pandemic struck but would now be happy to take much a lower price. It bought the business for $3.8bn in 2006.
The potential sale is said to be in the early stages of exploration at present. Adidas CEO Kasper Rorsted has previously scotched claims Reebok could be up for sale and the brand returned to profitability last year.
However sales are said to have slumped 42% during the pandemic compared to a drop of a third at Adidas.
Reebok was founded in Bolton in 1958 (early designs carried the Union Flag on them) and the brand shot to prominence in the 1980s, having secured a US distributor, with its Freestyle aerobics shoe for women.
Today the business is based in Boston, Massachusetts with regional offices around the world. Adidas has declined to comment on the reports.