Adidas is reportedly looking to shed Reebok 14 years after acquiring the brand for $3.8 billion. An internal review of Reebok is still in the “early stages,” but Adidas hasn’t achieved much success with the brand that was founded in 1958.
Reebok sales dropped 42% in the second quarter of 2020, while accounting for 8% of Adidas’ total sales in the first half of the year. Adidas has focused Reebok on fitness in recent years, and it currently has official footwear and apparel sponsorship deals with UFC and Spartan Race. It also has a deal with CrossFit that is set to expire this year.
Several companies could be interested in Reebok, including Timberland and North Face owner VF Corp and China’s Anta. Adidas could reportedly ask for less than $2.4 billion.