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adidas wants to sell Reebok

Among the interested parties, there would be VF Corp and China's Anta Sports

adidas wants to sell Reebok Among the interested parties, there would be VF Corp and China's Anta Sports

After a disappointing second quarter, with a 42% drop in sales, but even after the hiring of Kerby Jean-Raymond as creative director, adidas has reportedly made the decision to sell the Reebok brand by next March. The German sportswear giant had bought the American brand back in 2006 for $3.1 billion but its commercial performance must have been below expectations as rumors of a sale had been widespread for some time, despite close collaborations with JJJJound and Cardi B. At the news of the possible sale, adidas' shares rose 2.9% yesterday. 

The coronavirus must have given its coup de grace to Reebok, which could now be bought by VF Corp, Vans and The North Face, or Chinese sportswear giant Anta Sports. None of the three companies commented, however, a sign that work on a possible sale may have entered the preliminary stages. According to WWD, the crisis that the lockdown has brought with it has prompted many companies to scale back their businesses and shake off excess weights while many companies and private equity buyers are willing to seize the opportunity by buying historic but commercially weak brands at low prices.