La Jornada – German company Adidas announced the sale of its US subsidiary, Reebok

Frankfurt German sports brand Adidas announced the sale of its US subsidiary Reebok, which has been in trouble for years.

The group said in a statement that Adidas had “decided to initiate an official divestment from Reebok” as part of a five-year recovery plan.

The text does not mention any potential buyers and is limited to indicating that further details will be announced at the March 10 meeting.

The group indicated that it will focus recovery efforts on the Adidas brand.

“After careful thought, we concluded that Reebok and Adidas would be able to significantly improve their growth strength independently,” said Kasper Rorsted, president of the multinational company.

“We will work hard in the coming months to ensure a successful future for the Reebok brand and the team that supports it,” he explained.

Adidas bought Boston-based Reebok (Northeast USA) in 2006 for $ 3.8 billion, with the aim of strengthening its competition with Nike.

But Reebok has never managed to gain her financial independence, despite her collaborations with celebrities from the world of art such as Victoria Beckham, Cardi B or Ariana Grande.

The brand is currently valued at around 800 million euros (about $ 973 million), after successive devaluations.