Adidas Reportedly In Talks To Sell Reebok
For some sneakerheads who may be unaware, Reebok is owned by Adidas. Back in 2005, the brand was bought by the Three Stripes for a large sum of $3.8 billion and they have been sharing warehouses and website assets, ever since. Now, however, this business relationship could very well be coming to an end, based on a brand new report from Manager Magazin.
This publication is based out of Germany and typically has the inside track when it comes to what’s happening over at Adidas Headquarters. Based on the report, it noted that the brand is putting together a team that will try to have Adidas sell-off Reebok by early 2021. This news comes in the midst of a disappointing Q2 sales report that showed Reebok’s revenues dip by 42 percent as a result of COVID-19.