According to reports, Adidas is looking to vend of Reebok, looking back at 2005 Adidas brought Reebok for $3.8 billion USD and also turned down the news of selling the division for years as investors constantly called for the brand to be sold. The statements say, German company hired an intrinsic bunch of members to actively carryout reaching an offer to auction the subsidiary by March 2021. Based on the tittle-tattle, the front runners for the potential acquisition are china’s ANTA sports and the VF Corporation which heads Timberland, Vans and The North Face. The news arrives after Adidas’ Q2 2020 earnings report that disclosed revenue produced by Reebok was down 42 percent amidst the the Coronavirus pandemic.
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