German sportswear giant adidas has shortlisted bidders for its Reebok brand!
Announcing the same, the retailer has asked brands like Advent, Wolverine, CVC, Cerberus and Sycamore to submit final bids by August this year.
More on this, Kasper Rorsted, CEO, adidas, said that both adidas and Reebok will be able to significantly realise their growth potential independent of each other.
The CEO added that both the brands will work diligently to ensure a successful future for the Reebok brand and its team.
Kasper was instrumental in helping Reebok generate sales growth with new footwear lines like FloatRide Run and CrossFit Nano, and this was after Reebok had returned to profitability 2 years back.
adidas had bought Reebok in 2006 for US $ 3.8 billion.
The German retailer is known for manufacturing shoes, apparels and fashion accessories and is the second largest sportswear retailer in the world after Nike.
