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Reebok may go to Asian investors
20.10.2014 4559

Reebok may go to Asian investors

Sports brand Reebok may leave the Adidas group and head east. Concern of investors from Hong Kong and Abu Dhabi Jynwel Capital is preparing for Adidas an offer to purchase Reebok for 1,7 billion euros. At the same time, potential buyers plan to emphasize that the brand could develop more fully being independent. The news of a possible separation instantly flew around the world, and Adidas shares rose 4,5% on the Frankfurt Stock Exchange this morning.

If the offer of new investors is accepted, Adidas will part with the brand that did not meet the expectations of the group's management. The acquisition of Reebok took place in 2006 and the deal was worth 3 billion euros. The purpose of the purchase was to create a sportswear and footwear giant that could compete with Nike and strengthen Adidas' position in the US. In 2005, Adidas and Reebok ranked second and third in the US market, respectively, at 10% and 8%, according to SportsOneSource. In 2014, Adidas's share dropped to 6% and Reebok to 1,8%, while Nike's share increased from 35% in 2005 to 60% in 2014. Reebok's turnover in the first half of 2014 was 712 million euros.

Sports brand Reebok may leave the Adidas group and head east.
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