Adidas is reportedly planning to sell Reebok 14 years after it acquired the latter. According to Reuters which quoted German business magazine Manager Magazin, adidas chief executive Kasper Rorsted said the sale is expected to complete by March next year.
China's Anta Sports and US apparel maker VF Corp were allegedly among the interested parties, Reuters said. Adidas finalised its acquisition of Reebok for US$11.8 billion in 2006 to accelerate its strategic intent in the global athletic footwear, apparel and hardware markets. Adidas previously said that together, both companies will offer an enhanced portfolio of global brands, including adidas, Reebok, TaylorMade, Rockport and Greg Norman Collection. Adidas also said that the group will have more complete product offerings in key sporting categories, extended geographic reach, a more balanced sales profile, and enhanced research and development capabilities. MARKETING-INTERACTIVE has reached out to adidas, Anta Sports and VF Corp for comment.
Last year, Reebok rolled out a new logo that is an "updated, subtle modern evolution" of the original, which was first introduced in 1992. At the start of this year, it unified all Reebok sport and lifestyle products under one brand logo and wordmark. The new logo aimed to spotlight Reebok's heritage, "connecting its rich legacy to its exciting future". The move also sought to leverage the brand's "most recognisable and distinguished assets" - the vector logo and drop-R wordmark.
Karen Reuther, Reebok VP of creative direction previously said that under a unified banner, all of Reebok's products and experiences will be able to tell a single story that is clear and consistent. She added that the vector was created as a logo version of the iconic Reebok side stripes and cross-check design that dates back more than fifty years.
Enjoyed what you have read? Follow us on Instagram for the latest updates in Southeast Asia's marketing and advertising space!
Adidas neo launches social campaign featuring Sanrio character Gudetama
Analysis: Nike says 'Don't do it' and adidas agrees with a retweet
adidas picks Mad Hat Asia for PR duties in Malaysia
Battle of the boot brands: Nike edges out adidas in the Champions League
Reebok rolls out 'subtle modern evolution' of its logo, unifies branding
Reebok launches woman driven campaign featuring Gal Gadot, Ariana Grande
Reebok and actress Gal Gadot partner to inspire active lifestyle in women