adidas, which acquired Reebok in 2006 for €3.1bn, will sell the brand (valued at €803m)

"As part of the development of its new five-year strategy, adidas has concluded its assessment of strategic alternatives for Reebok. As a result of this review, the company has now decided to begin a formal process aimed at divesting Reebok," announced the German group on 16/02/2021.

adidas had bought the Reebok brand (of American origin) for $3.8bn (€3.1bn) in 2006. The brand would only be worth €803m in 2021, according to the latest accounting depreciations. While Reebok's turnover had increased in 2019 (+2%), it only amounted to €1.75bn of the €23.6bn of adidas' total turnover, or 7.4%. Faced with the Covid-19 pandemic, Reebook sales fell 7% in the third quarter of 2020 (-2% for adidas) and -42% for Q2 2020.

"Going forward, the company intends to focus its efforts on further strengthening the leading position of the adidas brand in the global sporting goods market. Accordingly, adidas is going to report Reebok as discontinued operations from the first quarter 2021 onwards. More details on adidas’ strategic business plan until 2025 will be unveiled at the company’s virtual…