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Herzogenaurach (dpa) - The Franconian sporting goods manufacturer Adidas is separating from its US subsidiary Reebok.
The company has decided to initiate a formal process, "aimed at the sale of Reebok," announced Adidas in Herzogenaurach.
In the future, the company wants to concentrate on further strengthening the leading position of the Adidas brand worldwide.
It is unclear where Reebok will travel to.
The US subsidiary will be reported as a "discontinued operation" from the first quarter.
«After careful consideration, we have come to the conclusion that Reebok and Adidas can exploit their growth potential significantly better independently of one another.
We will work at full speed in the coming months to ensure a successful future for the Reebok brand and the team behind it, ”said Adidas CEO Kasper Rorsted on Tuesday.
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Adidas took over the shares in Reebok in 2005.
Working together, however, never turned into a happy marriage.
Reebok had repeatedly brought losses to the franc.
© dpa-infocom, dpa: 210216-99-466457 / 3