Adidas to Say Goodbye to Reebok

This is going to be a landmark event. Adidas does sell Reebok.

The company intends to complete the Reebok sale process in the Q1 2021. Earlier, VF Corp., which owns the Timberland and North Face brands, as well as the Chinese Anta International Group Holdings were reported to be interested in the deal. More information on Adidas' strategic business plan to 2025 will be disclosed at a virtual presentation to investors on March 10, 2021.

Adidas CEO Kasper Rorsted said, “The long-term growth opportunities in our industry are highly attractive, particularly for iconic sports brands. After careful consideration, we have come to the conclusion that Reebok and Adidas will be able to significantly better realize their growth potential independently of each other.”