×
2 104
Fashion Jobs
V. F. CORPORATION
Manager, Strategic Accounts - Dickies Emea
Permanent · LONDON
VANS
Credit Controller - Spanish Speaking - Vans
Permanent · CALVERTON
VF INTERNATIONAL
Multilingual Credit Controller - Key Accounts (English Plus Any European Language)
Permanent · CALVERTON
ESTÉE LAUDER
Clinique - Consultant - John Lewis, Location - 15Hours / 3 Days - Part-Time, Permanent
Permanent · Exeter
ESTÉE LAUDER
Clinique - Consultant - Sutton Coldfield, Beatties - 15 Hours - Part-Time, Permanent
Permanent · The Royal Town of Sutton Coldfield
ESTÉE LAUDER
Clinique - Consultant - Leicester, Boots - Fosse Park - 15 Hours - Part-Time, Permanent
Permanent · Leicester
YVES SAINT LAURENT UK LIMITED
Saint Laurent HR Manager UK, Ireland & Netherlands
Permanent · LONDON
SHISEIDO
Bareminerals Account Manager - Hof Bluewater (35 Hours)
Permanent · Dartford
SHISEIDO
Laura Mercier Account Manager - Harvey Nichols, Edinburgh
Permanent · Edinburgh
ESTÉE LAUDER
Origins - Online Trading Manager - Brand Site
Permanent · London
ESTÉE LAUDER
Multi Brand - Multi Brand Business Manager - House of Fraser, Rushden Lakes - 37.5 Hours - Full-Time - Permanent
Permanent · Rushden
ESTÉE LAUDER
Clinique - Consultant - Fenwick, Newcastle - 36 Hours - Full Time - Permanent
Permanent · Newcastle upon Tyne
ESTÉE LAUDER
Clinique - Consultant - Leeds, Trinity - Boots - 26 Hours - Part-Time, Permanent
Permanent · Leeds
ESTÉE LAUDER
Clinique - Consultant - Halifax, Harveys - 15 Hours - Part-Time, Permanent
Permanent · Halifax
ESTÉE LAUDER
Aveda - Account Manager - House of Fraser-White City, London - 30 Hours - Full Time, Permanent
Permanent · London
FOREO
E-Key Account Manager
Permanent · London
FOREO
Marketing Manager
Permanent · London
VF INTERNATIONAL
Warehouse Trainer And Instructor
Permanent · COALVILLE
OUTSIDE THE BOX RECRUITMENT
Account Manager Kidswear
Permanent · LONDON
THE KOOPLES
Regional Manager London
Permanent · LONDON
OUTSIDE THE BOX RECRUITMENT
Digital Marketing And e Commerce Manager
Permanent · LONDON
ESTÉE LAUDER
Estee Lauder - Consumer Campaign Email Marketing Executive
Permanent · London
Advertisements
Published
Aug 12, 2021
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Adidas sells under-performing Reebok to Authentic Brands for €2.1bn

Published
Aug 12, 2021

Adidas is selling Reebok to Authentic Brands Group for up to €2.1 billion ($2.46 billion) as it exits an investment that never generated the rewards it had hoped for.


Reebok


It bought the US fitness label for $3.8 billion in 2006 but has been under long-term pressure from investors to sell the brand.

Of the new deal, it said the majority of the sale price will be paid in cash at the closing of the transaction, which is expected in Q1 2022. Adidas said it intends to “share the majority of the cash proceeds to be received upon closing with its shareholders”. 

“Reebok has been a valued part of Adidas, and we are grateful for the contributions the brand and the team behind it have made to our company. With this change in ownership, we believe the Reebok brand will be well-positioned for long-term success. As for Adidas, we will continue to focus our efforts on executing our ‘Own the Game’ strategy that will enable us to grow in an attractive industry, gain market share, and create sustainable value for all of our stakeholders,” said group CEO Kasper Rorsted.

Meanwhile ABG’s founder, Chairman and CEO, Jamie Salter, added: “It’s an honor to be entrusted with carrying Reebok’s legacy forward. This is an important milestone for ABG, and we are committed to preserving Reebok’s integrity, innovation, and values — including its presence in bricks and mortar. We look forward to working closely with the Reebok team to build on the brand’s success.”

The original Reebok buy included the Rockport, CCM Hockey and Greg Norman brands, which Adidas later divested for a total consideration of €0.4 billion.

The sale of Reebok “has no impact on Adidas’ financial outlook for the current year or the company’s 2025 financial ambition that was announced as part of its Own the Game strategy in March”, it said.

Copyright © 2021 FashionNetwork.com All rights reserved.