Tag: Adidas

Adidas Puts Partnership With Kanye West Under Review

October 8, 2022
AdidasBusiness & MarketsCompaniesEntertainmentEntertainment NewsKanye Westpartnership
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FRANKFURT—German sporting goods maker Adidas on Thursday said it has put under review its business partnership with rapper and fashion designer Kanye West. “After repeated efforts to privately resolve the situation, we have taken the decision to place the partnership under review. We will continue to co-manage the current product during this period,” the company…

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Adidas CEO to Leave Post Ahead of Schedule as the Company Faces Challenges in Chinese Market

August 29, 2022
AdidasBusiness & MarketsChinaChina Business & EconomyChinese marketCompaniessportswearXinjiang Cotton
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German sports brand Adidas recently announced that its CEO, Kasper Rorsted, will leave his post in 2023—three years before his contract ends—and that the company is now searching for its next chief executive. The unexpected move came as the company saw declining sales in China for five consecutive quarters. The company said on Aug. 22…

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Adidas Launches New Share Buyback

December 18, 2021
AdidasBusiness & EconomybuybackCompaniesMarket WatchMarketsshare
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BERLIN—Adidas plans to buy back up to 4 billion euros ($4.54 billion) of its shares by 2025 and will also return the majority of the cash proceeds from the sale of Reebok, it said on Thursday. The German sportswear company said it will cancel most of the shares repurchased during the program, which would reduce…

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Adidas Ends Reebok Era With $2.5 Billion Sale to Authentic Brands

August 12, 2021
AdidasBrandBusiness & EconomyCompaniesEuropeInternationalreebokWorld
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BERLIN—Adidas is selling Reebok to Authentic Brands Group(ABG) for up to 2.1 billion euros ($2.5 billion) as the German sporting goods company concentrates on its core brand after a deal that did not deliver. Adidas bought Reebok for $3.8 billion in 2006 to help compete with arch-rival Nike, but its sluggish performance prompted repeated calls…

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