GERMANY: Adidas seeks buyers for Rockport brand
Adidas says Rockport is not a strategic asset for the group
German sportswear giant Adidas is seeking offers for its struggling Rockport shoe brand, its chief executive confirmed this week.
Speaking on a conference call with analysts as the group recorded a 34% slump in first quarter net profit, Herbert Hainer said investment bank Guggenheim Partners has been hired to talk with potential buyers for Rockport.
He said the brand, which joined the Adidas portfolio with the company's acquisition of Reebok in 2006, is not a strategic asset for the group.
Rockport generated revenues of EUR290m (US$405m) last year, up 1.1% on the year before. But net sales tumbled 12.1% to EUR53m in the first quarter, according to results published this week. Sales were down 6.9% after the numbers were adjusted for currency fluctuations.
The main aims set out in adidas's 'Route 2015' plan are for financial growth and improved profitability. A look at the company's recent performance shows that some progress has been made, particularly...
This report analyzes the worldwide markets for Footwear in US$ Million and Million Pairs by the following Product Categories/Segments: Athletic...
Adidas focuses on running and performance apparel and footwear. The company expects these categories to be strong drivers of growth in the future. The four-year partnership between adidas and the Cana...
Apparel and footwear group Deckers Brands has appointed Wendy Yang as president of its Teva brand as it looks to evolve its outdoor positioning and further penetrate the global footwear market....
Synopsis Canadean's "Intersport Polska SA - Company Capsule" contains in depth information and data about the company and its operations. The profile contains a company overview, key facts, major prod...
- Why China 5-year plan won't change garment-making
- ‘Fixing Fashion’ one stitch at a time
- Navigating a turbulent sourcing landscape
- Jordan garment sector strong amid regional unrest
- Supply chains under pressure as Black Friday looms
- US Q3 in brief: Burlington Stores, Guess, Chico's
- Global clothing and footwear trade to drop by 1.5%
- Cambodia living wage campaign kicks off
- German sustainable textile scheme heads to Vietnam
- New Balance launches first 3D printed running shoe
- Wearable technology: The future market potential for smart garments and e-textiles
- Practical Brand Sourcing Strategy
- Statistics: Trends in Global and Regional Man-made Fibre Production - 2015
- Myanmar's Garment Sector in 2015 - now with updated members' directory
- Trade and Trade Policy: The World’s Leading Clothing Exporters and Key Markets 2015