Adidas has drawn up a shortlist of bidders for its Reebok brand as it seeks to draw a line under an ill-fated investment that never lived up to the German sporting goods company's expectations, sources said.
Finally after 16 years closed; municipal headaches; massive rebuilding and Covid delays, France’s most storied department store La Samaritaine revealed itself on Monday, after an estimated €750m investment by owner LVMH.
Sporting goods maker Adidas has launched the sale of its Reebok brand in an auction which risks being affected by a political row over possible forced labour in China's western Xinjiang region, three sources said.
German sportswear maker Adidas predicted a strong rebound in sales in 2021, particularly in Asia and Latin America, although its operating profit will be trimmed by costs associated with divesting the Reebok brand.
German sportswear maker Adidas AG said on Monday it is considering strategic options, including a potential sale, for Reebok, 15 years after it bought the U.S.-focused brand to take on archrival Nike on its home turf.