Home / Knowledge / News / Apparel/Garments / Investors bid $2.2bn for sportsgear marketer Reebok
Investors bid $2.2bn for sportsgear marketer Reebok
22
Oct '14
Eight years after acquiring US rival, Reebok, seems like German sports gear marketer – Adidas has put Reebok on the block.

According to WSJ, funds affiliated to the Abu Dhabi Government and a Hong Kong based private-equity investor - Jynwel Capital are in talks with Adidas to buy Reebok and may make an offer very soon.

Adidas acquired Reebok for $3.8 billion in 2006, in an effort to boost sales of its footwear and sporting-apparel and compete with rival - Nike in the US market.

However, sales at Reebok have slipped by more than a third to $2 billion in 2013, since Adidas acquired Reebok in 2006, while accounting for 11 percent of Adidas Group sales.

Quoting sources, WSJ said, “The consortium has bid $2.2 billion for Reebok and it will inject new capital to open new stores and also hike spend on marketing, while retaining current Reebok employees.”

Earlier, in the first week of October, Adidas Group said it will return up to €1.5 billion to Adidas AG shareholders over the next three years, primarily in the form of share buybacks.

In addition, Adidas, which reported sales of €14.5 billion in 2013, stated its commitment to pay an annual dividend to shareholders in the range of 20% to 40% of net income attributable to shareholders. (AR)

Fibre2fashion News Desk - India

Must ReadView All

RBI Governor Urjit Patel addressing a press conference. Courtesy: Youtube

Textiles | On 7th Dec 2016

Defying expectations, RBI keeps repo rate unchanged

Defying market expectations, the Monetary Policy Committee (MPC) of...

RBI Governor Urjit Patel and other officials addressing a press conference. Courtesy: Youtube

Textiles | On 7th Dec 2016

RBI withdraws the incremental CRR from Dec 10

The Reserve Bank of India (RBI) has decided to withdraw the...

Textiles | On 7th Dec 2016

‘Price-competitiveness is crucial for China yarn market’

Kikani Exports, India based yarn supplier with 12 years of experience ...

Interviews View All

Veronique Lee
Modavanti

‘Sustainable fashion is trending upwards, slowly but surely, as people...

Sanjay Desai & Ashish Mulani
True Colors

Digital textile printing will be the technology of the future

Rajiv Sirohi
Shara

‘Portugal is taking away a major share of the mill made sector.’

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
December 2016

December 2016

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


Advanced Search