Adidas finally decided to sell Reebok

German sportswear and accessories manufacturer Adidas has launched the process of selling the American Reebok. This decision was made during the development of a new five-year strategy for Adidas, the company said .

Adidas acquired Reebok in 2006. Now brands will be able to realize their growth potential much better independently from each other, the press release notes. Beginning in the first quarter, Adidas' financial statements will list the Reebok division as an asset held for sale.

Earlier, Adidas CEO Kasper Rorsted has repeatedly denied the information that he wants to sell Reebok. He closed the brand's underperforming stores and took other measures to cut costs. After Reebok finally regained profitability by early 2019, Rorsted expressed hope that he could now drive sales growth through new athletic shoe lines. But the plans were thwarted by the pandemic, from which Reebok suffered more than Adidas.

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Reebok cost Adidas $3.8 billion (nearly $5 billion today). Now the company can be valued at more than half the price. The Bell wrote more about this here .