Adidas sells Reebok to Authentic Brands in US$2.5b deal

WORLD – Sportswear manufacturer Adidas AG, has agreed to sell its underperforming Reebok business to Authentic Brands Group Inc. for up to US$2.5 billion, adding another well-known name to the buyer’s growing line-up of consumer companies. The majority of the price will be paid in cash at closing, with the rest coming as deferred and contingent consideration, the companies said in a statement and the deal is expected to close in the first quarter of 2022. Authentic Brands Chief Executive Officer Jamie Salter said in the statement that the deal…

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Bcode launches Adidas store in Nigeria bringing all favorite brands in one store

NIGERIA – bCODE, a multi-brand retailer for wellness fashion and lifestyle, has announced the opening of their Adidas store in Nigeria (Lagos and Abuja). The brand took to their social media to announce the news. “Now we have a one stop-store for all things Adidas which include shoes and sneakers, apparel and accessories, thanks to bCODE. What makes things more exciting is that you can now shop Adidas on the revamped official website,” bCODE stated. “Remember that last year the bCODE website was relaunched with the intention of bringing all…

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Adidas to close German, U.S. robot factories, says deploying tech in Asia would be more economical and flexible

GERMANY – Adidas has announced plans to close the high-tech “robot” factories in Germany and the United States it launched to bring production closer to customers. The sportwear manufacturer said in November that deploying some of the technology in these factories in Asia would be “more economic and flexible”. The Adidas factories were part of a drive to meet demand for faster delivery of new styles to its major markets and to counter rising wages in Asia and higher shipping costs. The company originally planned a global network of similar…

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