{"id":324351,"date":"2021-08-12T21:32:35","date_gmt":"2021-08-12T18:32:35","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/adidas-sells-reebok-to-authentic-brands-for-2-5-billion\/"},"modified":"2021-08-12T21:32:35","modified_gmt":"2021-08-12T18:32:35","slug":"adidas-sells-reebok-to-authentic-brands-for-2-5-billion","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/adidas-sells-reebok-to-authentic-brands-for-2-5-billion\/","title":{"rendered":"#Adidas sells Reebok to Authentic Brands for $2.5 billion"},"content":{"rendered":"<p>&#8220;<strong>#Adidas sells Reebok to Authentic Brands for $2.5 billion<\/strong>&#8221;<\/p>\n<div>\n<aside class=\"single__inline-module alignleft\">\n        <\/aside>\n<p>Adidas\u00a0is selling Reebok to Authentic Brands Group for up to 2.1 billion euros ($2.5 billion) as the German sporting goods company concentrates on its core brand after a deal that did not deliver.<\/p>\n<p>Adidas\u00a0bought Reebok for $3.8 billion in 2006 to help compete with arch-rival Nike, but its sluggish performance prompted repeated calls from investors to sell the U.S. and Canada focused brand.<\/p>\n<p>In the meantime,\u00a0Adidas\u00a0managed to eat into Nike\u2019s dominance in the United States with its own brand, helped by partnership with celebrities like Kanye West, Beyonce and Pharrell Williams.<\/p>\n<p>Reebok will keep its headquarters in Boston and continue operations in North and Latin America, Asia-Pacific, Europe and Russia, the U.S. brand management firm said in a statement, adding it will work closely with\u00a0Adidas\u00a0during the transition.<\/p>\n<p>Over 11 years, ABG has amassed more than 30 labels sold in some 6,000 stores. Its brands include <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>arel chains A\u00e9ropostale and Forever21, as well as and Sports Illustrated magazine.<\/p>\n<p>\u201cWe\u2019ve had our sights set on Reebok for many years, and we\u2019re excited to finally bring this iconic brand into the fold,\u201d Jamie Salter, founder, chairman and CEO of ABG, said.<\/p>\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/08\/adidas-sells-reebok-toABG2-1.jpg?quality=90&amp;strip=all&amp;w=1024\" alt=\"Jamie Salter holding a sneaker in each hand while standing in his office decorated in imagery and mementos of numerous brands\" class=\"wp-image-19108964\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/08\/adidas-sells-reebok-toABG2-1.jpg?quality=90&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/08\/adidas-sells-reebok-toABG2-1.jpg?quality=90&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/08\/adidas-sells-reebok-toABG2-1.jpg?quality=90&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Authentic Brands Group, led by Jamie Salter, is adding Reebok to its stable of more than 30 labels it\u2019s purchased over the last decade.<\/figcaption><figcaption><span class=\"credit\">David McGlynn<\/span><\/figcaption><\/figure>\n<\/div>\n<p>\u201cWe are committed to preserving Reebok\u2019s integrity, innovation, and values \u2013 including its presence in bricks and mortar,\u201d he added.<\/p>\n<p>Last month, ABG also filed for a U.S. initial public offering after a year of strong earnings growth.<\/p>\n<p><strong>FITNESS PLAN<\/strong><\/p>\n<p>After Kasper Rorsted took over as\u00a0Adidas\u00a0CEO in 2016, he launched a turnaround plan which helped Reebok return to profitability, but its performance continued to lag that of the core\u00a0Adidas\u00a0brand and it was then hit by the COVID-19 pandemic.<\/p>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/08\/adidas-sells-reebok-toABG4.jpg?quality=90&amp;strip=all&amp;w=1024\" alt=\"Cardi B holding a sneaker \" class=\"wp-image-19109047\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/08\/adidas-sells-reebok-toABG4.jpg?quality=90&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/08\/adidas-sells-reebok-toABG4.jpg?quality=90&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/08\/adidas-sells-reebok-toABG4.jpg?quality=90&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Reebok\u2019s bottom line was boosted by collaborations with celebrities like rapper Cardi B.<\/figcaption><figcaption><span class=\"credit\">Reebok\/ MEGA<\/span><\/figcaption><\/figure>\n<p>Adidas\u00a0reported last week that Reebok\u2019s first-half sales jumped to 823 million euros from 600 million a year ago, and the brand made a net gain of 68 million euros compared to a net loss of 69 million in the first half of 2020.<\/p>\n<p>Reebok\u2019s <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/pagesix.com\/2021\/05\/10\/cardi-bs-new-reebok-shoes-were-inspired-by-daughter-kulture\/?\">recent collaborations with celebrities like Cardi B<\/a> and a renewed focus on women\u2019s apparel have put it in a better place, analysts say.<\/p>\n<p>Adidas\u00a0has already sold, for 400 million euros, the Rockport, CCM Hockey and Greg Norman brands that were part of the original Reebok purchase.<\/p>\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/08\/adidas-sells-reebok-toABG3.jpg?quality=90&amp;strip=all&amp;w=1024\" alt=\"Pharrell Williams wearing Adidas apparel \" class=\"wp-image-19109097\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/08\/adidas-sells-reebok-toABG3.jpg?quality=90&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/08\/adidas-sells-reebok-toABG3.jpg?quality=90&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/08\/adidas-sells-reebok-toABG3.jpg?quality=90&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Adidas bought Reebok to help it compete with rival Nike, but in the end, partnerships with celebrities like Pharrell Williams proved to be a better assist.<\/figcaption><figcaption><span class=\"credit\">Getty Images for Adidas<\/span><\/figcaption><\/figure>\n<\/div>\n<p>The German company said in a statement that the sale had no impact on its financial outlook for the current year or for its targets set out in the five-year strategy it announced in March.<\/p>\n<p>Adidas\u00a0said the majority of the 2.1 billion euros would be paid in cash at the closing of the transaction, expected in the first quarter of 2022, with the remaining comprised of a deferred and contingent consideration.<\/p>\n<p>It said it would share the majority of the cash proceeds with its shareholders. ($1 = 0.8526 euros)\n                        <\/p><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/nypost.com\/2021\/08\/12\/adidas-sells-reebok-to-authentic-brands-for-2-5-billion\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;#Adidas sells Reebok to Authentic Brands for $2.5 billion&#8221; Adidas\u00a0is selling Reebok to Authentic Brands Group for up to 2.1 billion euros ($2.5 billion) as the German sporting goods company concentrates on its core brand after a deal that did not deliver. Adidas\u00a0bought Reebok for $3.8 billion in 2006 to help compete with arch-rival Nike,&#8230;<\/p>\n","protected":false},"author":1,"featured_media":324352,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/08\/adidas-sells-reebok-toABG.jpg?quality=90&strip=all&w=1024","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[114047,73653,111587,70584,76735,72938],"class_list":["post-324351","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-8-12-21","tag-adidas","tag-authentic-brands","tag-mergers-acquisitions","tag-reebok","tag-sales"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/324351","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=324351"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/324351\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/324352"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=324351"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=324351"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=324351"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}