Adidas Sells Rockport Brand
Adidas plans to sell the Rockport brand. The German manufacturer has already used the services of the investment bank Guggenheim Partners to offer the brand to potential buyers. The brand value could be $ 300 million or more.
The Rockport brand was founded in 1971 and is now represented in 55 markets around the world. Adidas acquired Rockport in 2005 after buying Reebok International Ltd for $ 4 billion. Sources say the Rockport sale is still in its early stages. Private investment companies and shoe manufacturers are potential partners.
At the same time, the latest financial report of Adidas AG was published. The German company’s net profit in the first quarter of 2014 fell 34% to 204 million euros. According to the official information, profit decreased due to adverse currency fluctuations and weak results of the golf goods division TaylorMade-Adidas Golf. Revenue decreased by 6% to 3,53 billion euros.
At the same time, the company confirmed its forecast of net income for the current year in the range of 830 million to 930 million euros and earnings per share from 3,97 to 4,45 euros. The group's revenue, according to its own estimates, will grow by 2014-7% in 9, adjusted for currency fluctuations.
Recall that the Adidas Group is one of the world leaders in the sports goods industry, producing products under the brands Adidas, Reebok, Rockport, Rbk CCM Hockey and Taylor-Made Golf.
Adidas plans to sell the Rockport brand. The German manufacturer has already used the services of the investment bank Guggenheim Partners to offer the brand to potential ...
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