Adidas made a €265 million writedown last year for Reebok, the brand it bought for $3.8 billion in 2005 to help it compete with Nike. Fraud was uncovered at Reebok’s India unit, and it lost a lucrative contract to supply American football apparel, thought to be worth $200 million a year. The writedown was linked to a weak performance in the US...

Share this story: