Adidas sells Rockport for $280 million
27/01/2015
Adidas took on Rockport after buying Reebok in 2006, but has said the sale will result in a "double-digit million euro" hit to 2014 profit.
New Balance will contribute its Drydock business to the new entity, which will include Drydock’s Aravon, Dunham and Cobb Hill brands.
Adidas CEO Herbert Hainer (pictured) said: “Rockport is a brand that has performed well over the last years. However, our focus is clearly on sport and operating a brand portfolio with a clear agenda to unleash the potential of athletes and inspire consumers to live active lives. The brown shoe category is not core to this strategy and the sale of Rockport will allow us to reduce complexity and pursue our target consumer more aggressively with the adidas, Reebok and TaylorMade brands.”
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