Friday August 7, 2020

Adidas/Reebok ready to challenge Nike

Nike is rarely toasted in the headquarters of European sports giant Adidas-Salomon.

6th August, 2005

But the German company's management must be saluting the Greek god of victory after buying rival firm Reebok last week.

The €3.1 billion surprise takeover means Adidas is closing the gap on industry leader Nike in the lucrative athletic gear market. Herbert Hainer, chief executive ofAdidas, said: “It is definitely a once-in-alifetime opportunity, a perfect fit for both companies and a milestone in the industry.”

Together, Nike, Adidas and Reebok account for 71...

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