Arts, Entertainment, Culture • Fashion

Adidas puts US brand Reebok up for sale

Sporting goods manufacturer Adidas is preparing to divest its US subsidiary Reebok. A formal sale process is to be initiated, the company announced. In the future, Adidas wants to concentrate entirely on its brand with the three stripes. The Group had come to the conclusion "that Reebok and Adidas can significantly better exploit their growth potential independently of each other", explained CEO Kasper Rorsted. The Adidas share price hardly reacted on balance.

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Card reviewed by: @ash