Adidas will sell Reebok after Covid hit

German sportswear manufacturer Adidas could sell Reebok, which it acquired 15 years ago, says message on the corporate website.

Adidas is currently considering several “strategic alternatives” for Reebok. The main ones are built around maintaining the current state of affairs, or selling the company in the foreseeable future.

“The decision will be announced on March 10, 2021, when the company’s new strategy will be officially presented,” the company said in a statement.

Adidas bought Reebok in 2005, becoming the sole owner of the company, while maintaining the brand that by then has established itself as one of the largest and oldest manufacturers of sportswear.

In 2020, Reebok has been hit harder by the effects of the coronavirus crisis than Adidas. In the second quarter, the company’s revenue fell 42 percent (versus 33 percent for Adidas).