Athletic apparel company Adidas might sell its Reebok brand, the company said Monday. Adidas said the company is developing a new five-year plan and mulling over Reebok’s future role.
“These strategies alternatives include both a potential sale of Reebok as well as Reebok remaining a part of the company,” Adidas said in a statement, adding that a decision will be announced in March.
Adidas acquired Reebok in 2005 for $3.8 billion. After Reebok sales slowed, Adidas in 2016 implemented a turnaround plan that the parent company said helped Reebok turn a profit two years later and realize faster growth.
— This is a developing story.