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Fashion

adidas Is Reportedly Selling Reebok

The brand has declined to comment on the rumor.

895 Hypes

adidas Is Reportedly Selling Reebok

The brand has declined to comment on the rumor.

According to a report by Forbes, adidas is preparing to sell Reebok by March of 2021. The rumor, which adidas refused to comment on, comes after Reebok underwent a failed restructuring.

An internal team is reportedly working on the sale. adidas CEO Kasper Rorsted originally hoped to close the deal for approximately $2.4 billion USD but, due to the pandemic, that price may drop. Back in 2006, adidas acquired Reebok for $3.8 billion USD. Interested buyers include Anta International Group Holdings in China and VF Corp., which owns Timberland and The North Face.

Stay tuned as updates on the potential sale of Reebok emerge.

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