Adidas is selling its subsidiary brand Reebok. The sneaker brand is not doing well, and Adidas wants to concentrate fully on its own brand.
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Thanks to strong online growth, Adidas was able to limit the loss of sales to 7% in the third quarter. Exchange rate effects weighed heavily on the results. Concerning its fourth quarter, the company remains very cautious.
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Several sources report that German sports goods giant Adidas is considering a sale of its sister brand Reebok. That brand was severely hit by the corona crisis.
German sports brand Adidas has had a victorious quarter because of the World Cup football. Total turnover rose 4 % to 5.26 billion euro, a hefty 3.2 billion coming from shoe sales. Operational profit climbed 17 % to 592 million euro.
Reebok, sponsor of the Ultimate Fighting Championship, has released a clothing line with the name of the popular Irish fighter Conor McGregor. That is confusing, Dutch fashion chain McGregor complains.
German sports fashion producer Adidas has had an exceptionally strong second quarter as turnover grew an astonishing 20 %. Based on those results, the company has adjusted its full-year forecast.