adidas Confirms Reebok Might Be Sold, ABG Considered Potential Purchaser of the Brand
The company will be making an official announcement in March.
Following rumors, adidas has now confirmed that it is considering the possible sale of its Reebok brand. As shared by WWD, Authentic Brands Group (ABG) – which oversees the likes of Juicy Couture, Spyder and Barneys New York – is considered a potential purchaser of the activewear label.
Reebok was acquired by adidas back in 2006 for $3.8 billion USD. “[We have] begun to assess strategic alternatives for Reebok,” the company shared. “These strategic alternatives include both a potential sale of Reebok as well as Reebok remaining a part of the company. A decision will be announced on March 10, 2021, when the company’s new strategy is officially presented.” According to a close source, ABG has taken interest in discussing the possible sale of Reebok with adidas. Other potential purchasers include VF Corp., the parent company of The North Face and Timberland that acquired Supreme last month.
The change comes as part of the German sportswear giant’s five-year plan, as Reebok continues to see a decrease in revenue this year.
