Can a New Owner Pump Up Reebok?

摘要

When Adidas AG announced its purchase of Reebok in 2005, it heralded the $3.8 billion deal as a "once-in-a-lifetime opportunity." With its cult following among fitness fanatics and a strong U.S. presence, Reebok stood to double Adidas's sales in the crucial North American market, where archrival Nike Inc. held a commanding lead. But Reebok quickly turned out to be a stone in the German company's shoe. The aerobics boom from the 1980s had long fizzled and innovations like the Reebok Pump inflatable shoe proved short-lived fads. Adidas embarked on an endless restructuring effort as it tried year after year to halt Reebok's decline. By the end of 2020, patience in Herzogenaurach-a sleepy town in rural Bavaria where Adidas is based-had waned, and Chief Executive Officer Kasper Rorsted put the company up for sale again. On Aug. 12, Authentic Brands Group Inc. snapped up Reebok for $2.5 billion, adding the sneakers with the Union Jack emblem to its hodgepodge of brands that includes fast-fashion retailer Forever 21, skateboard specialist Airwalk, outdoor outfitter Eddie Bauer, and shirtmaker Brooks Brothers.