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Adidas Begins Sale Process for Underperforming Reebok Brand

  • Sportswear maker had been reviewing whether to sell business
  • CEO Rorsted to drop Reebok as he prepares a new strategy
    

Photographer: Jason Alden/Bloomberg

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Adidas AG plans to divest its underperforming Reebok brand as the German sportswear maker moves on after trying to revive its performance for more than a decade.

Adidas is starting a formal process to exit the business, and it will present more details on its new strategy March 10, the company said Tuesday. The apparel maker said in December it was weighing options for Reebok.