Adidas acquired Reebok in 2006

Adidas acquired Reebok in 2006

German sporting goods giant Adidas has decided to begin a formal process aimed at divesting Reebok after concluding its assessment of strategic alternatives for the brand.

In a statement today (6 February), Adidas said going forward, it intends to focus its efforts on further strengthening the leading position of its namesake brand in the global sporting goods market. Accordingly, Adidas is going to report Reebok as discontinued operations from the first quarter of 2021 onwards.

"The long-term growth opportunities in our industry are highly attractive, particularly for iconic sports brands," said Adidas CEO Kasper Rorsted. "After careful consideration, we have come to the conclusion that Reebok and Adidas will be able to significantly better realise their growth potential independently of each other. We will work diligently in the coming months to ensure a successful future for the Reebok brand and the team behind it." 

Adidas acquired Reebok in 2006. As a result of the successful implementation of the turnaround plan "Muscle Up" initiated in 2016, the brand was able to significantly improve its growth and profitability prospects, laying the foundation to unleash its full potential in the highly attractive global sporting goods market.

Adidas confirmed in December it was weighing up its options for the brand, confirming speculation that began at the end of November.

More details on Adidas' strategic business plan until 2025 will be unveiled at the company's virtual Investor and Media Day on 10 March.