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BERLIN, Feb 16, 2021 (Reuters) - German sportswear maker Adidas plans to sell or spin-off its underperforming Reebok brand, 15 years after it bought the U.S. fitness label to help compete with arch-rival Nike Inc. Adidas said on Tuesday it had decided to begin a formal process aimed at divesting Reebok as part of a five-year strategy it plans to present on March 10, when the company will also publish 2020 results. It will report Reebok as a discontinued operation from the first quarter of 2021. A banking source said the business could be worth around 1 billion euros ($1.2 billion). "Reebok and Adidas will be able to significantly better realize their growth potential independently of each other," Chief Executive Kasper Rorsted said in a statement . The company bought Boston-ba...

German Multinational corporation, Adidas is planning to launch its official app by December in India. Adidas Group India is planning to drive customer engagement through content and loyalty programmes, and boost online sales. “Our engagement with consumers do not end in incremental sales or how many omni-channel stores are rolled out. Shopping is just a small fraction. For engaging, we are planning an app and a rewards programme for loyal customers to increase their engagement with the brand. Engagement is what we are headed to,” said Abhishek Lal, senior e-commerce director for Adidas Group in India. The company is said to launch separate apps for Adidas and its subsidiary Reebok India. Looking at the current market state, much of which is going online it may be a push towards streng...

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Adidas plans to sell Reebok Brand

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