Matt Damon: Clean water access frees up time for school. Facebook changes its company name to Meta amid controversies. Barbara Corcoran: The housing boom is not a bubble. The German sportswear company said in a statement on Tuesday that it has decided to begin a formal process "aimed at divesting Reebok" following a review of the business that it announced late last year.
The decision to sell Reebok was made as part of a new five-year strategy that Adidas will unveil on March The pandemic caused an athleisure boom. Adidas reported last week that Reebok's first-half sales jumped to million euros from million a year ago, and the brand made a net gain of 68 million euros compared to a net loss of 69 million in the first half of Reebok's recent collaborations with celebrities like Cardi B and a renewed focus on women's apparel have put it in a better place, analysts say.
The German company said in a statement that the sale had no impact on its financial outlook for the current year or for its targets set out in the five-year strategy it announced in March. Yet Reebok has limped along as Adidas' own core business grew, prompting pressure from investors to dump the lagging brand. Authentic Brands CEO Jamie Salter said in a news release that the retail conglomerate will work with Reebok to strengthen its business and maintain its brick-and-mortar stores.
Skip Navigation. Key Points. And pinning Reebok into that small market killed the opportunity for meaningful growth. Basketball is a possibility once more, but perhaps not right away. But to Litchfield, the sale is a chance for Reebok to rediscover its identity. Fireman regrets not expanding quickly enough in some segments.
Reebok should have gone harder into the Asian market, according to Fireman, and the company should have pushed into the soccer space when Nike did. When Fireman sold to Adidas, he thought he was selling Reebok to a competitor that would continue that growth and expansion.
Do I regret that the management of Adidas fundamentally destroyed it? Would I not sell? And I took it. To Litchfield, fingers can only be pointed at Adidas for so long. Is it the marketing? Is it the leadership? Is it chance? Reebok ended up where it is now based on a series of decisions over the years, some successful and others not. Because the corrections you could make would be unreasonable. That it might once again challenge the top brands in sport.
So, the logic goes, could Reebok do the same in challenging Nike and Adidas. Freed from the restriction of competing directly with Adidas, the company could do a lot of things, provided its new owners believe in the future of the brand.
It could IPO again. It could refocus on building up the U. It could dip into its catalog and take advantage of its history by iterating on earlier models, feeding off nostalgia for a brand that traces its roots back to the s.
Analysts see potential too, for a Reebok comeback similar to other athletics brands like Champion and Vans. Already, in the second half of , Powell saw improvements in the Reebok business, which he attributes to the company focusing on retro shoes. Powell cautions against getting into a ton of categories, which can be difficult to manage as a smaller company. Fireman, on the other hand, thinks the opportunity is in creating new categories or innovations, like Reebok did when it started making shoes with artists or through The Pump.
And can anyone catch Nike? We could do it again. But we could do it as Reebok for Reebok to represent Reebok. Not to be Lululemon and not to be Nike. On the other hand, Fireman and Foster see opportunities in Nike growing too big. No: We can be Reebok pretty good. We did it once, we could do it again. Never taken a breath.
And maybe there are a variety of reasons for that. They have the taste of being at the top. Let Reebok have a go. Correction: In an earlier version of this article, a quote from Nicholas Smith misidentified a shoe style Adidas is famous for.
It should have been noted as "The Superstar. Things are much better in the industry than in recent years. Retail will always be a tough business, though.
The pandemic upended some trends and dramatically accelerated others to further disrupt the flow of goods from manufacturers to retailers to consumers. Topics covered: retail tech, e-commerce, in-store operations, marketing, and more.
Search x. We take a look at the history of the brand, through the lens of the people who were there. Chapter One. Get retail news like this in your inbox daily. Subscribe to Retail Dive. Sales include all sub-brands. The original J. Chapter Two. The Reebok Pump Source: Reebok.
We were giving them a heck of a nightmare. Joe Foster, founder of Reebok. Chapter Three. The Reebok S. Carter shoe, made with Jay-Z Source: Reebok. Chapter Four. Cara Salpini. Editors' picks Flickr user Xurble.
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