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This saga spanned two years of lawsuits after Adidas severed ties with the rapper, formerly known as Kanye West, over his antisemitic comments.

Adidas and Ye put the past behind them, settling their feud 2 years after their dramatic split

<h2>This saga spanned two years of lawsuits after Adidas severed ties with the rapper, formerly known as Kanye West, over his antisemitic comments.</h2>

Adidas and Ye have decided to bury the hatchet! On October 29, the sportswear giant announced they've reached an out-of-court settlement to resolve all legal disputes stemming from their dramatic split, with no money changing hands in the agreement.
The saga unfolded over two years of lawsuits after Adidas cut ties with the rapper, formerly known as Kanye West, following his antisemitic comments.
&lsquo;There are no more open issues, and there&rsquo;s no money changing hands&mdash;just a mutual decision to move on,&rsquo; Adidas CEO Bjorn Gulden said during a conference call with reporters. He noted that while tensions existed on various fronts, both parties realized they didn&rsquo;t need to keep fighting and agreed to withdraw all claims.
On the business front, sales from remaining Yeezy inventory generated about 200 million euros ($215 million) this quarter, down from approximately 350 million euros during the same period last year. However, Adidas reported robust growth in Greater China for the third quarter, with sales in North America (excluding Yeezy products) also increasing due to an improved brand image.
More about Adidas Vs Kanye West
Kanye West made headlines in 2022 for a series of anti-Semitic remarks during interviews and on social media, prompting brands like Adidas and Balenciaga to sever ties with him.
The controversy began at Paris Fashion Week, where he wore a &lsquo;White Lives Matter&rsquo; T-shirt, criticized as a response to the Black Lives Matter movement and linked to neo-Nazi groups.
On October 8, 2022, he tweeted he would go &lsquo;death con 3 on JEWISH PEOPLE,&rsquo; violating platform policies. This led to backlash from the Anti-Defamation League and resulted in his suspension from Twitter and restrictions on Instagram.
More about Kanye West
Kanye West, now known as Ye, is a multifaceted artist, producer, and fashion designer whose career has been marked by both groundbreaking work and significant controversy.

The BCCI logo now features 2 stars instead of 3 which mark the two ODI World Cup victories in 1983 and 2011. The regular shirt features 3 stars as it also includes the 2007 T20 World Cup triumph.

Watch! Adidas unveils Team India's brand new jersey for ODI World Cup 2023

Adidas, the official apparel sponsor for Team India, unveiled the brand new jersey for the Men in Blue for the ODI World Cup 2023 on Wednesday.

Tap too watch

The BCCI logo now features 2 stars instead of 3 which mark the two ODI World Cup victories in 1983 and 2011. The regular shirt features 3 stars as it also includes the 2007 T20 World Cup triumph.

Adidas, the official apparel sponsor for Team India, unveiled the brand new jersey for the Men in Blue for the ODI World Cup 2023 on Wednesday.
Interestingly, the iconic three Adidas white stripes on the shoulders were replaced by the vibrant tricolour.
The BCCI logo now features 2 stars instead of 3 which mark the two ODI World Cup victories in 1983 and 2011. The regular shirt features 3 stars as it also includes the 2007 T20 World Cup triumph.
The jersey was released via a song sung by Indian rap singer Raftaar, titled '3 Ka Dream'.
Team India will begin their ICC 2023 World Cup campaign against five-time champions Australia at the MA Chidambaram Stadium in Chennai on October 8.

The report further mentioned that the talks are likely at an advanced stage and the final deal contours are in the works

Bata India in partnership talks with Adidas for Indian market

Bata is in talks with footwear giant Adidas for a strategic partnership for the Indian market

Footwear maker Bata India is in talks with atheletics shoemaker giant Adidas for a strategic partnership for the domestic market.&nbsp;
According to a CNBC-TV18 report, the talks between the two footwear giants are at an advanced stage with the final deal contours in the works.&nbsp;
Bata India, which has established itself among India&rsquo;s largest footwear retailer has more than 2,050 stores across the country, according to its latest annual report. The stores are not only present in key locations but can also be found in mini-metros and towns with price points catering to different consumer segments.&nbsp; Bata market in India For the first quarter of the current financial year, Bata India Ltd reported a consolidated net profit of Rs 106.8 crore, registering a decline of 10.3 percent from Rs 119.3 crore a year back. The company's revenue stood at Rs 958.1 crore, rising 1.6 per cent from Rs 943 crore in the year-ago quarter, the company said in a regulatory filing.&nbsp;

Team India will start donning the new Adidas jersey from the WTC final vs Australia

Watch! Adidas unveils new Team India jerseys ahead of WTC final 2023

Adidas unveils Team India's new jerseys ahead of WTC final 2023

Watch here!

Team India will start donning the new Adidas jersey from the WTC final vs Australia

Adidas India on Thursday unveiled Team India's new jerseys ahead of the World Test Championship final vs Australia.
Rohit Sharma's men will don 3 different jerseys for all 3 formats of the game starting from the WTC final.
Test, ODI and T20 shirts have the iconic 3 strikes of Adidas running from neck to shoulder.
BCCI had roped in global sportswear brand Adidas as Team India's official kit sponsor till 2028.

Adidas issued a warning last week that failure to 'repurpose' its unsold Yeezy stock will cause a 500 million euro reduction in operational earnings this year

Adidas to sell part of its Yeezy stock for charity after pulling out of deal with Kanye West 

Adidas says to sell part of Yeezy gear for charity

Adidas issued a warning last week that failure to 'repurpose' its unsold Yeezy stock will cause a 500 million euro reduction in operational earnings this year

Adidas will sell at least part of its huge inventory of Kanye West's Yeezy products and donate the proceeds, the German sportswear group's boss said Thursday.
The merchandise has been in limbo since Adidas ended its partnership with the controversial rapper.
The company's CEO Bjorn Guden told shareholders at an annual general meeting that "burning the goods is not the solution".
"What we will try to do over time is to sell part of these goods and to donate the money to organisations that help us and which also have been hurt by Kanye's statements," he said.
"When we will do that and how we will do that is not clear but we're working on it," he added.
Adidas halted its tie-up with West -- now known formally as Ye -- in October after he made a series of anti-Semitic outbursts.
As a result, the group ended production of the highly successful Yeezy line designed together with West.
Potentially not selling the apparel and shoes linked to West would lead to a revenue loss of 1.2 billion euros ($1.3 billion), the group said when it announced its 2022 full-year results earlier this week.

Adidas CEO Bjorn Gulden reported that the Yeezy split caused a 20% decline in net sales for the company in the first three months of the year in North America

Adidas posts loss as Kanye West split 'hurts' business

Adidas CEO Bjorn Gulden reported that the Yeezy split caused a 20% decline in net sales for the company in the first three months of the year in North America

German sportswear giant Adidas reported Friday a hefty first-quarter loss, acknowledging its split from controversial US rapper Kanye West was "hurting" its bottom line.
The company booked a net loss of 39 million euros ($43 million) from January to March, compared to a profit of 482 million euros in the period a year earlier.
The end of its highly successful Yeezy line, designed in collaboration with West, hit sales by about 400 million euros in the quarter.
But overall sales were not as bad as feared, with analysts seeing early signs of improving fortunes, and Adidas's share price rose 7.5 percent in the afternoon on the Frankfurt Stock Exchange.
Adidas halted its tie-up with West, now known as Ye, in October after he made a series of anti-Semitic outbursts.
The loss of Yeezy, along with falling revenues for its lifestyle brands, "are of course hurting us," said new CEO Bjorn Gulden in a statement.
But there was no news Friday about what it would do with its huge stock of Yeezy trainers.
"The options are narrowing," Gulden told reporters after the results were released, but finding a solution will take time as there are "so many interested parties".
The company had announced in February that it could suffer an operating loss of as much as 700 million euros this year if decides to write off the value of its entire existing Yeezy inventory.

Adidas terminated its deal with Kanye West (who now goes by the name Ye) in October after he made a series of anti-Semitic outbursts, leaving Adidas in a fix over $1 billion worth of leftover Yeezy shoes. 




Adidas stuck with $1 billion of Yeezy gear after dropping Kanye

Adidas stuck with $1 bn Yeezy gear after dropping Kanye

Adidas stuck with Yeezy gear after dropping Kanye

Adidas terminated its deal with Kanye West (who now goes by the name Ye) in October after he made a series of anti-Semitic outbursts, leaving Adidas in a fix over $1 billion worth of leftover Yeezy shoes.&nbsp;
&nbsp;

Adidas says it is still weighing its options over what to do with the huge $1.1 billion inventory of Kanye West's Yeezy products after it ended its partnership with the controversial rapper.
Potentially not selling the apparel and shoes linked to West would lead to a revenue loss of 1.2 billion euros ($1.3 billion), the group said, announcing its 2022 full-year results.
Adidas halted its tie-up with Kanye West (who now goes by the name Ye) in October after he made a series of anti-Semitic outbursts.
As a result, the group ended production of the highly successful Yeezy line designed together with West.
Along with one-off costs projected to reach 200 million euros related to a company strategic review, Adidas said it could end up with an operating loss of 700 million euros in 2023.
Next year was shaping up to be a key one for sporting apparel companies, with both the European football championships and the Olympic Games taking place.
Adidas on Wednesday also said net profit fell heavily by 83 percent to 254 million euros in 2022, confirming preliminary results released in February.

MPL Sports pulled out of the deal with BCCI early, paving the for Killer Jeans to fill in the gap

Adidas likely to replace Killer jeans as Team India's apparel sponsor: Report

Adidas as Team India's apparel partner?
According to reports, Adidas will be the kit sponsor for both the Indian men's and women's teams for the next 5 years.

Click for details.

MPL Sports pulled out of the deal with BCCI earlier, paving the way for Killer Jeans to fill in the gap

Adidas is likely to replace Kewal Kiran Clothing Limited's Killer Jeans as Team India's apparel sponsor.&nbsp;
According to a Network 18 report, BCCI's new deal with Adidas will begin from June 2023 and will run till March 2028.
Previously, MPL Sports pulled out of the deal with BCCI early, paving the way for Killer Jeans to fill the gap.
Before MPL, Nike had a five-year deal with BCCI from 2016 to 2020 for Rs 370 crore.
Also read: <a href="https://www.editorji.com/sports-news/cricket/ind-vs-aus-pat-cummins-special-gift-for-cheteshwar-pujara-after-100th-test-1676805754756">IND vs AUS: Pat Cummins' special gift for Cheteshwar Pujara after 100th Test</a>

German sportswear brand Adidas is alleging in a legal battle against the high-fashion label Thom Browne over stripes. 

Adidas sues luxury brand Thom Browne over stripes; know more 

Adidas sues luxury brand Thom Browne over stripes; all you need to know 

German sportswear brand Adidas is alleging in a legal battle against the high-fashion label Thom Browne over stripes.&nbsp;

Sportswear brand Adidas recently filed a lawsuit against luxury brand Thom Browne for using stripes on its apparel, which the sports giant has been using since the 1940s.
Founded in 2003, Thom Browne is known for its sporty, sharply tailored suits for men and women. The label often includes sets of four parallel stripes on anything from puffer jackets to socks.
The sportswear label is seeking $867,225 in damages and claimed that the stripes are similar enough and consumers confuse Thom Browne products for Adidas.&nbsp;
However, as per Thom's lawyer, Thom Browne is a luxury designer brand and Adidas is a sports brand. A pair of striped socks from Thom Browne costs $120, while similar crew socks from Adidas cost around $16 for a three-pack.
Also watch: <a href="https://www.editorji.com/entertainment-news/hollywood/adidas-ends-partnership-with-rapper-kanye-west-over-his-antisemitic-remarks-1666774728720">Adidas ends partnership with rapper Kanye West over his antisemitic remarks</a>

Adidas will launch an investigation into allegations of inappropriate behaviour by Kanye West, after they ended their partnership with the rapper and fashion designer last month

Adidas launches probe into misconduct allegations against Kanye West

Adidas will launch an investigation into allegations of inappropriate behaviour by Kanye West, after they ended their partnership with the rapper and fashion designer last month

The sportswear giant Adidas will launch an investigation into allegations of inappropriate behaviour by Kanye West, after they ended their partnership with the rapper and fashion designer last month. Adidas initiated the probe after receiving an anonymous letter making several allegations against the musician.
A Rolling Stone article surfaced online that carried a letter obtained by Adidas which included allegations made by the unidentified staff at Yeezy and Adidas. The staff claimed the rapper showed an intimate picture of his ex-wife, Kim Kardashian, in job interviews, and that his &lsquo;problematic behavior&rsquo; was overlooked by Adidas management. They further added that Adidas &lsquo;turned their moral compass off&rsquo; and failed to protect employees from &lsquo;years of verbal abuse, vulgar tirades, and bullying attacks&rsquo;.
According to Guardian, Adidas released a statement on November 24 and said &lsquo;it is currently not clear whether the accusations made in an anonymous letter are true,&rsquo; but they have taken the claims &lsquo;very seriously&rsquo; and had &lsquo;taken the decision to launch an independent investigation of the matter immediately to address the allegations&rsquo;.
Adidas has launched an inquiry after one of its largest shareholders, Union Investment, demanded clarity about the alleged incidents.
Janne Werning, head of ESG capital markets and stewardship at Union Investment, which holds a 1% stake in Adidas, told the Financial Times: &ldquo;Adidas needs to disclose when the management and the supervisory board was first informed about the internal allegations.&rdquo;
Also Watch| <a href="https://www.editorji.com/entertainment-news/bollywood/bhediya-to-stree-here-are-some-horror-comedy-movies-for-fun-and-chill-1669342743894">'Bhediya' to 'Stree': Here are some horror-comedy movies for fun and chill</a>

&lsquo;We condemn his recent divisive remarks and do not tolerate anti-Semitism or any other form of hate speech,&rsquo; said Skechers in a statement on Wednesday.

Kanye West 'escorted' out of Skechers office after showing up 'unannounced'

‘We condemn his recent divisive remarks and do not tolerate anti-Semitism or any other form of hate speech,’ said Skechers in a statement on Wednesday.

&lsquo;We condemn his recent divisive remarks and do not tolerate anti-Semitism or any other form of hate speech,&rsquo; said Skechers in a statement on Wednesday.

Rapper Kanye West has been in the headlines over the last few weeks for his racist and anti-Semitic statements. He has lost many lucrative fashion collaborations. Recently, Kanye was &lsquo;escorted&rsquo; out of the corporate office of Skechers Shoe Company in Manhattan Beach, New York by two executives after he turned up uninvited.
In a statement released on Wednesday, Skechers said that the rapper arrived &lsquo;unannounced and without invitation&rsquo; at the Los Angeles offices, and was &lsquo;engaged in unauthorized filming.&rsquo;
&lsquo;Skechers is not considering and has no intention of working with West. We condemn his recent divisive remarks and do not tolerate anti-Semitism or any other form of hate speech. Considering Ye was engaged in unauthorized filming, two Skechers executives escorted him and his party from the building after a brief conversation,&rsquo; the company said.
Last month, the star appeared at a Paris fashion show donning a shirt emblazoned with &lsquo;White Lives Matter,&rsquo; a slogan created as a retaliation to the Black Lives Matter movement. His account from Twitter and Instagram was removed days later after he used a reference to Us military readiness and threatened to &lsquo;Go death con 3 on JEWISH PEOPLE.&rsquo;
On Tuesday,<a href="https://www.editorji.com/entertainment-news/hollywood/adidas-ends-partnership-with-rapper-kanye-west-over-his-antisemitic-remarks-1666774728720"> Adidas</a> and Gap announced that they are ending their partnership with Kanye West and are taking &lsquo;immediate&rsquo; steps to remove his products. Paris-based fashion house Balenciaga ended collaboration with him last week.
Film and TV producer MRC is shelving an already finished documentary about the artist and CAA, one of Hollywood&rsquo;s biggest talent agencies, has also dropped Kanye West.
Also Watch | <a href="https://www.editorji.com/entertainment-news/bollywood/janhvi-kapoor-spills-beans-about-vijay-deverakonda-s-relationship-status-says-he-is-practically-married-1666845198914">Janhvi Kapoor spills beans about Vijay Deverakonda&rsquo;s relationship status,says he is &lsquo;practically married'</a> &nbsp;

Adidas and Kanye West's partnership is estimated to be worth billions, making it among the largest sources of the rapper's wealth.

Adidas ends partnership with rapper Kanye West over his antisemitic remarks

Adidas and Kanye West's partnership is estimated to be worth billions, making it among the largest sources of the rapper's wealth.

Adidas, German sportswear giant, has terminated its partnership with rapper Kanye West over his offensive and antisemitic remarks. In a statement issued on Tuesday, the company said that it doesn't tolerate antisemitism and any other sort of hate speech. They said the rapper's comments have been 'unacceptable, hateful and dangerous', and they violate the compnay's value of diversity and inclusion,mutual respect and fairness.&nbsp;
This decision comes after the company faced pressure to cut ties with Ye from celebrities and others on social media.&nbsp;
Adidas said after conducting a 'thorough review', they are immediately stopping production of its line of Yeezy products and payments to Ye and his companies.&nbsp;
Adidas and <a href="https://www.editorji.com/entertainment-news/hollywood/kanye-west-makes-a-bid-to-purchase-social-network-site-parler-after-being-banned-from-twitter-instagram-1666082012053">Kanye West</a> started collaborating almost a decade ago. Their partnership is estimated to be worth billions, making it among the largest sources of the rapper's wealth.
The move by Adidas comes after Kanye West was suspended from Twitter and Instagram over antisemitic posts that the social networking sites claimed violated their policies.
Kanye West was also slammed for donning a &lsquo;White Lives Matter&rsquo; T-shirt to his Yeezy collection show in Paris.
Also Watch | <a href="https://www.editorji.com/entertainment-news/bollywood/jaya-bachchan-calls-the-paparazzi-intruders-as-they-try-to-take-pictures-outside-pratiksha-on-diwali-1666687408836">Jaya Bachchan calls the paparazzi 'intruders' as they try to take pictures outside Pratiksha on Diwali</a> &nbsp;

The Moroccan government has asked the famous athletic shoe and apparel brand Adidas to change the design of the new jersey of the Algerian football team. 
The new jersey that Adidas has designed has blue, yellow and teal geometric patterns. As per Adidas, the design is inspired by Mechouar Palace in Algeria. However, the culture ministry of Morocco has accused the brand of 'appropriating a Morrocan pattern called Zellige in the jersey'. 
Lawyer Mourad Elajouti who has sent a legal warning to Adidas on behalf of the ministry said that the pattern, Zellige is a geometric blue, teal and yellow design which is common in Morrocan Mosaics. 
In his letter to Adidas, Elajouti wrote that the new design was 'cultural appropriation and an attempt to steal a form of Moroccan cultural heritage and use it outside of context'. The ministry has demanded Adidas to either change the design within 2 weeks or to identify the Zellige art of Morocco as an inspiration. 
The 2 nations share a history of political tensions, including the Sand war of 1963 which was over a month-long war that happened due to border issues between the 2 neighboring nations. 

Morocco demands Adidas to change new Algerian football jersey

Morocco has accused apparel brand Adidas of 'stealing heritage' in their new jersey design for the Algerian football team. 

Here's what the full controversy is about.

The 2 nations share a history of political tension for several decades, including the Sand war of 1963 which was a border conflict between the 2 neighbouring nations.&nbsp;

The Moroccan government has asked sports apparel brand Adidas to change the design of the new jersey of the Algerian football team.&nbsp;
The new jersey that Adidas has designed has blue, yellow and teal geometric patterns. As per Adidas, the design is inspired by Mechouar Palace in Algeria. However, the culture ministry of Morocco has accused the brand of 'appropriating a Morrocan pattern called Zellige in the jersey'.&nbsp;
Lawyer Mourad Elajouti who has sent a legal warning to Adidas on behalf of the ministry said that the pattern, Zellige is a geometric blue, teal and yellow design which is common in Morrocan Mosaics.&nbsp;
In his letter to Adidas, Elajouti wrote that the new design was 'cultural appropriation and an attempt to steal a form of Moroccan cultural heritage and use it outside of context'. The ministry has demanded Adidas to either change the design within 2 weeks or to identify the Zellige art of Morocco as an inspiration.&nbsp;
The 2 nations share a history of political tensions, including the Sand war of 1963 which was over a month-long war that happened due to border issues between the 2 neighboring nations.&nbsp;

The official match ball for this year's FIFA World Cup in Qatar - the Al Rihla - was unveiled on Wednesday. The ball manufactured and designed by Adidas promises to be faster in flight than any previous World Cup ball. The design of the ball reflects the Qatari culture in the form of architecture, iconic boats and flags of the host nation.
Also read: 
The tournament will be held in Doha as the ball was unveiled just ahead of the official draw which will take place on Friday.
Meanwhile, Former Real Madrid and Spain goalkeeper and 2010 World Cup winner Iker Casillas and his teammate from Real Madrid and former Brazilian midfielder Kaka tested out the new Al Rihla ball in a friendly match with local children.
The 2022 World Cup will take place in Qatar from 21st November to 18th December and will be the first World Cup.

FIFA World Cup 2022: New tournament ball Al Rihla unveiled & tested by Casillas & Kaka 

Hell Al Rihla! 

The official ball of the FIFA World Cup 2022 in Qatar! 

Al Rihla&nbsp;designed and manufactured by Adidas will be used as the official match ball of the 2022 FIFA&nbsp;World Cup in Qatar

The official match ball for this year's FIFA World Cup in Qatar - the Al Rihla - was unveiled on Wednesday. The ball manufactured and designed&nbsp;by Adidas promises to be faster in flight than&nbsp;any previous World Cup ball. The design of the ball reflects the Qatari culture in the form of&nbsp;architecture, iconic boats and flags of the host nation.
Also read:&nbsp;<a href="https://www.editorji.com/sports-news/football/italy-fail-to-qualify-for-fifa-world-cup-again-after-north-macedonia-snatch-a-stoppage-time-goal-1648175632524" target="_blank">Italy fail to qualify for FIFA World Cup again after North Macedonia snatch a stoppage-time goal</a>
The tournament will be held in Doha as the ball was unveiled just ahead of the official draw which will take place on Friday.
Meanwhile, Former Real Madrid and Spain goalkeeper and 2010 World Cup winner Iker Casillas and his teammate from Real Madrid and former Brazilian midfielder Kaka&nbsp;tested out the new Al Rihla ball in a friendly match with local children.
The 2022 World Cup will take place in Qatar from 21st November to 18th December.
Also read:<a href="https://www.editorji.com/sports-news/football/major-changes-in-ballon-d-or-football-awards-from-next-season-1647062355919" target="_blank"> Major changes in Ballon d'Or football awards from next season</a>

Although Arsenal faced a frustrating defeat at Nottingham Forest, the Gunners who donned an all-white jersey were lauded for raising their voice against the youth violen

'No more Red': Arsenal give-up on traditional colours for a cause

Tap to know why did the Arsenal squad was clad in all-white in their FA Cup loss against Nottingham Forest.  

Although Arsenal faced a frustrating defeat at Nottingham Forest, the Gunners who donned an all-white jersey were lauded for raising their voice against the youth violence.&nbsp;
Mikel&nbsp;Arteta's&nbsp;side dropped the&nbsp;traditional red color as they launched the 'No More Red' campaign. The Premier League side collaborated with their Kit providers Adidas to raise awareness about the increasing youth violence in London after the UK capital saw a record 30th teenage homicides in a year.
Taking to their Twitter the top-flight English club announced that their jersey will not be put out on a sale. These jerseys will be donated to organizations and young people who are working to tackle the issue of the increasing number of knife crimes among youngsters.&nbsp;

Although Arsenal faced a frustrating defeat at Nottingham Forest, the Gunners who donned an all-white jersey were lauded for raising their voice against youth violence.&nbsp;

Although Arsenal faced a frustrating defeat at Nottingham Forest, the Gunners who donned an all-white jersey were lauded for raising their voice against the youth violence.&nbsp; Mikel&nbsp;Arteta's&nbsp;side dropped the&nbsp;traditional red color as they launched the 'No More Red' campaign. The Premier League side collaborated with their Kit providers Adidas to raise awareness about the increasing youth violence in London after the UK capital saw a record 30th teenage homicides in a year. Taking to their Twitter the top-flight English club announced that their jersey will not be put out on a sale. These jerseys will be donated to organizations and young people who are working to tackle the issue of the increasing number of knife crimes among youngsters.&nbsp;
Also read:&nbsp;<a href="https://www.editorji.com/sports-news/football/fa-cup-a-shocking-3rd-round-loss-for-arsenal-against-nottingham-forest-1641780491015" target="_blank">FA Cup: A shocking 3rd round loss for Arsenal against Nottingham Forest</a>

Adidas has announced to sell&nbsp;Reebok to Authentic brands Group for $2.5 billion as the sporting goods company concentrates on its core brand.&nbsp;
The closing of the transaction is expected to occur in the first quarter of 2022.&nbsp;Adidas bought Reebok for $3.8 billion in 2006 but its sluggish performance prompted repeated calls from investors to sell the brand.
Adidas said it&nbsp;will continue to focus on executing its 'Own the Game' strategy. This&nbsp;will enable the company to grow in an attractive industry, gain market share, and create sustainable value for all of its stakeholders, said Kasper Rorsted, CEO of Adidas AG.
In 2016 Reebok initiated a turnaround plan called 'Muscle Up' through which the brand was able to significantly improve its growth and profitability prospects. In March of this year, Adidas presented its 2025 'Own the Game' strategy designed to significantly increase sales and profitability and gain market share by 2025.
During the strategy formulation process, Adidas assessed strategic alternatives for Reebok with a focus on ensuring both Adidas and Reebok would be well-positioned for sustainable growth. Following this evaluation, Adidas decided to focus its efforts on further strengthening the leading position of the Adidas brand in the global sporting goods market and announced the initiation of a formal process to divest Reebok in February 2021.
The sale of Reebok has no impact on Adidas&rsquo; financial outlook for the current year or the company&rsquo;s 2025 financial ambition that was announced as part of its Own the Game strategy in March of 2021.

Adidas to sell Reebok for $2.5 billion to Authentic Brands Group

Adidas has announced to sell&nbsp;Reebok to Authentic brands Group for $2.5 billion as the sporting goods company concentrates on its core brand

Sportswear brand Adidas has announced to sell Reebok for $2.5 billion, 16 years after buying the underperforming&nbsp;company for $3.8 billion, to US-based Authentic Brands Group.
The buyer firm is the parent company to brands like Forever 21, Sports Illustrated, Nautica, Juicy Couture, JCPenny and more.
Adidas, however, said it plans to sell Reebok as the Germany-based sporting goods company concentrates on its core brand.&nbsp;
The closing of the transaction is expected to occur in the first quarter of 2022.&nbsp;Adidas bought Reebok for $3.8 billion in 2006 but its sluggish performance prompted repeated calls from investors to sell the brand.
Adidas said it&nbsp;will continue to focus on executing its 'Own the Game' strategy. This&nbsp;will enable the company to grow in an attractive industry, gain market share, and create sustainable value for all of its stakeholders, said Kasper Rorsted, CEO of Adidas AG.

The closing of the transaction is expected to occur in the first quarter of 2022.

Sportswear brand Adidas has announced to sell Reebok for $2.5 billion, 16 years after buying the underperforming&nbsp;company for $3.8 billion, to US-based Authentic Brands Group.
The buyer firm is the parent company to brands like Forever 21, Sports Illustrated, Nautica, Juicy Couture, JCPenny and more.
Adidas, however, said it plans to sell Reebok as the Germany-based sporting goods company concentrates on its core brand.&nbsp;
The closing of the transaction is expected to occur in the first quarter of 2022.&nbsp;Adidas bought Reebok for $3.8 billion in 2006 but its sluggish performance prompted repeated calls from investors to sell the brand.
Adidas said it&nbsp;will continue to focus on executing its 'Own the Game' strategy. This&nbsp;will enable the company to grow in an attractive industry, gain market share, and create sustainable value for all of its stakeholders, said Kasper Rorsted, CEO of Adidas AG.
Jamie Salter, Founder, Chairman and CEO of ABG commented, &ldquo;It&rsquo;s an honor to be entrusted with carrying Reebok&rsquo;s legacy forward. This is an important milestone for ABG, and we are committed to preserving Reebok&rsquo;s integrity, innovation, and values - including its presence in bricks and mortar. We look forward to working closely with the Reebok team to build on the brand&rsquo;s success.&rdquo;
In 2016 Reebok initiated a turnaround plan called 'Muscle Up' through which the brand was able to significantly improve its growth and profitability prospects. In March of this year, Adidas presented its 2025 'Own the Game' strategy designed to significantly increase sales and profitability and gain market share by 2025.
During the strategy formulation process, Adidas assessed strategic alternatives for Reebok with a focus on ensuring both Adidas and Reebok would be well-positioned for sustainable growth. Following this evaluation, Adidas decided to focus its efforts on further strengthening the leading position of the Adidas brand in the global sporting goods market and announced the initiation of a formal process to divest Reebok in February 2021.
The sale of Reebok has no impact on Adidas&rsquo; financial outlook for the current year or the company&rsquo;s 2025 financial ambition that was announced as part of its Own the Game strategy in March of 2021.

Like every other aspect of our lives, the Covid-19 pandemic has altered our fashion choices too. Call it the new normal or pandemic fashion, its here to stay.
The latest in 'pandemic fashion' are these pair of one-metre-long Adidas Superstar sneakers, that could help you maintain social distancing, literally.
The shoes, dubbed as the longest ever sneakers, have been created by Estonian rapper Tommy Cash for Adidas. In the paid, one shoe is black and the other is white.
Netizens were quick to weigh in on the eccentric design.&nbsp;

Pandemic fashion: metre-long sneakers could help you maintain social distance

Adidas has launched&nbsp;one-metre-long sneakers and they are just perfect for social distancing. What do you think?

Like every other aspect of our lives, the Covid-19 pandemic has altered our fashion choices too. Call it the new normal or pandemic fashion, its here to stay.
The latest in 'pandemic fashion' are these pair of one-metre-long Adidas Superstar sneakers, that could help you maintain social distancing, literally.
The shoes, dubbed as the longest ever sneakers, have been created by Estonian rapper Tommy Cash for Adidas. In the pair, one shoe is black and the other is white.
&nbsp;
Netizens were quick to weigh in on the eccentric design. ((breathe screen shots of tweets and memes&nbsp;on music))

Like every other aspect of our lives, the Covid-19 pandemic has altered our fashion choices too. Call it the new normal or pandemic fashion, its here to stay.
The latest in 'pandemic fashion' are these pair of one-metre-long Adidas Superstar sneakers, that could help you maintain social distancing, literally.
The shoes, dubbed as the longest ever sneakers, have been created by Estonian rapper Tommy Cash for Adidas. In the pair, one shoe is black and the other is white.
Netizens were quick to weigh in on the eccentric design.&nbsp;

After a tumultuous year of sexual harassment and data breach scandals, global reputation of companies has taken a hit. In a recent list released by The Reputation Institution for 2019, Rolex has stood out yet again for the fourth year in a row as the top ranking company in their Global RepTrak 100. Some of the other big names featured in the list were Lego, Walt Disney, Adidas & Microsoft. 

After a tumultuous year of sexual harassment and data breach scandals, global reputation of companies has taken a hit. In a recent list released by The Reputation Institution for 2019, Rolex has stood out yet again for the fourth year in a row as the top ranking company in their Global RepTrak 100. Some of the other big names featured in the list were Lego, Walt Disney, Adidas & Microsoft. 

adidas

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