According to industry insiders, adidas is looking to sell Reebok after 15 years of ownership.
While an adidas spokesperson merely noted that the company doesn’t comment on market rumors when asked, whispers from insider sources claim that major investors in the Three Stripes have demanded the offloading of the company after the mixed results of its restructuring. While sources claim adidas was seeking $2 billion in the deal, they may have to settle for significantly less due to the pandemic (for comparison, the company purchased Reebok for $3.8 billion in 2005).
It’s hard to differentiate between cold hard facts and credible rumors at this point, but the brand supposedly hopes to reach a deal by March of 2021. German publication Manager Magazin reports that interested buyers currently include VF Corp (owners of Timberland and the North Face) and Anta International Group Holdings, a Chinese sportswear giant that supplies equipment globally and owns over 25 sub-brands (including Arc’teryx).
It’s ultimately unclear how this will affect the current sneaker landscape, and the deal may not even transpire at all. However, the sale would likely represent a major shakeup in the brand’s scope of operation and funding if completed. As always, stay tuned to Modern Notoriety for updates.