Photo: Sportico.com
Adidas Sells Reebok To ABG, Earned 2.1 Billion Euros
German-based Adidas has sold Reebok in exchange for 2.1 billion euros to Authentic Brands Group (ABG) due to the company's sluggish performance under its banner. Reportedly, Adidas had bought Reebok in 2006 but was not happy with the lagging performance in recent years and the COVID-19 pandemic made the situation worse. While, ABG CEO, Jamie Salter said, ''We're excited to finally bring this iconic brand into the fold.''
Tags: Adidas, Reebok, United States, Authentic Brands Group
Courtesy: Reuters
Photo: Complex
ABG To Acquire Reebok From Adidas After Sluggish Performance
Owing to the sluggish performance, Adidas has confirmed to sell Reebok to American brand management company "Authentic Brands Group (ABG)" for 2.1 billion euros. The German sporting goods company reported that Reebok’s sales increased to 823 million euros as compared to 600 million in 2020. It also made a profit of 68 million euros. "We've had our sights set on Reebok for many years,” said Jamie Salter, CEO of ABG.
Tags: Adidas, Reebok, ABG, shoe
Courtesy: Reuters
Photo: India.com
Cardi B Promoting Shoes As Goddess Durga Angers Indians
Cardi B has sparked controversy with her latest ad of Reebok sneakers, in which she is paying homage to Goddess Durga. The ad features her holding a sneaker with eight hands like Maa Durga. The campaign angered several Indians who criticized her for her revealing dress and comparing herself to the Goddess. However, later the rapper posted an apology stating she didn’t mean to offend anyone and will be cautious in future.
Tags: Cardi B, Reebok, Goddess Durga, Controversy
Courtesy: Hindustan Times
