Adidas plans to sell Reebok within months

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4 年前

German sportswear company Adidas may be ready to cut its loses with Reebok and sell the U.S.-focused brand.

Last year Adidas wrote down Reebok's value by around a half to 842 million euros, or about $995 million dollars.

That was a sharp decline from the $3.8 billion dollars it paid for the brand in 2005.

Now manager magazin says Adidas Chief Executive Kasper Rorsted plans to complete a sale by March 2021.

The publication listed U.S. apparel maker VF Corp and China's Anta Sports among the interested parties.

There was no immediate comment from Adidas.

But shares in the firm jumped on the news, trading as much as 3% higher on Thursday (October 22) afternoon.