Adidas plans to ditch Reebok brand By Reuters

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© Reuters. Boards with the Reebok store logo are seen in a shopping center in the Belaya Dacha outlet village on the outskirts of Moscow.

BERLIN (Reuters) – German sportswear manufacturer Adidas AG (DE 🙂 said on Tuesday it plans to ditch the underperforming brand Reebok that it failed to revive 15 years after buying the American fitness brand to help compete with its archrival Nike Inc (NYSE :). Adidas (OTC 🙂 said in a statement that it had decided to begin a formal process aimed at ditching Reebok as part of a five-year strategy that it plans to unveil on March 10. “Reebok and Adidas will be able to significantly better realize their growth potential independently of each other,” said CEO Kasper Rorsted.

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