Getty Images
Industryweek 7589 Reebok

Investors Eye Reebok Buy from Adidas

Oct. 20, 2014
Adidas bought Reebok in 2006 hoping to pile pressure on Nike.

NEW YORK - A consortium of investors from Hong Kong and Abu Dhabi is interested in buying the Reebok brand from Adidas (IW 1000/231) for 1.7 billion euros (US $2.2 billion), The Wall Street Journal reported Sunday.

Sources close to the matter told the business daily that Jynwel Capital chief executive Jho Low was behind the bid, arguing that Reebok would fare better as an independent brand.

And funds linked to the Abu Dhabi government plan to communicate soon with Adidas management, the report said.

Adidas bought Reebok in 2006 for three billion euros hoping to pile pressure on U.S. rival Nike (IW 500/44) (NKE).

But the German giant still has seen its share of the U.S. market keep shrinking.

It has been a tough year for Adidas.

The company slashed its annual net profit forecast to about 650 million euros. That was much lower than previous guidance for between 830-930 million euros.

Copyright Agence France-Presse, 2014

Popular Sponsored Recommendations

Brand Tracking 101 Toolkit

May 30, 2023
Ongoing brand tracking is essential for improving brand health and tracking the ROI of marketing initiatives – in fact, companies with strong brand identities outperform competitors...

Guide to Turning Product Data into Profitable Content and Experiences

Sept. 11, 2023
Businesses can lose up to 9.5% of their annual revenue due to bad digital experiences. This guide highlights the need for enriched product content to deliver profitable content...

Beware Extreme Software

Sept. 24, 2023
As a manufacturer, you understand the importance of staying ahead of the curve and being proactive in your approach to technology. With the rapid pace of change in the industry...

Legacy Phone Lines Are Draining Your Profits

Oct. 30, 2023
Copper wire phone line expenses that support emergency devices could be costing your company millions of dollars in wasteful overhead expenses. Rates have been skyrocketing while...

Voice your opinion!

To join the conversation, and become an exclusive member of IndustryWeek, create an account today!