It was 2006 when adidas decided to acquire Reebok for $ 3.8 billion. Since then, adidas has always tried to give new life to the acquired brand, succeeding in 2016, thanks to the arrival of Kasper Rorsted, current adidas CEO, and responsible for numerous cuts and closures of physical Reebok stores.
Despite the excellent results obtained over the last two years, and the resumption of sales by the British-born brand, Kasper Rorsted has decided to sell Reebok. The news, initially reported by Business of Fashion, has now been confirmed, also underlining the weight that the spread of COVID-19 has had in this choice, leading adidas to have to let go of the label at a price lower than that originally paid: 2 , 5 billion dollars compared to almost 4 billion dollars 15 years ago.
To win Reebok was the company of Boston Authentic Brands Group Inc. which counts under it as many as 30 brands including Barneys and BrooksBrother. “It is an honor to be able to continue the Reebok legacy. This is a milestone in ABG’s journey, we look forward to starting to work closely with the Reebok team to build the future success of the brand.” In the words of Jamie Salter, founder, president and CEO of Authentic Brands Group Inc. The conclusion of the deal is scheduled for early 2022, after which we will just have to wait to find out what the fate of Reebok will be.