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Adidas puts US brand Reebok up for sale
Adidas puts US brand Reebok up for sale
Credit: / Camilla Carvalho

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.

CrossFit CEO faces backlash over tweet which associated Covid-19 with George Floyd
Black kettle bell
Black kettle bell Credit: Jesper Aggergaard

In response to a tweet by the Institute for Health Metrics and Evaluation at the University of Washington stating that "racism is a public health issue" the CrossFit CEO Greg Glassman tweeted "FLOYD-19", associating George Floyd whose murder by the police has sparked protests around the world with the Covid-19 pandemic. As a response, hundreds of gyms that ran on an affiliate model for CrossFit have removed the brand from their name and the Reebok brand has announced to end their relationship with CrossFit. Since then Glassman has apologized and CrossFit stated that it'll "not stand for racism".