In February, after months of speculation,
adidas confirmed its divesting Reebok. A tumultuous relationship, to say the least: Reebok had been a subsidiary of adidas since its since its €3.1 billion purchase in 2006, but in 2020 alone it saw its sales drop by 20%. The previous year, hundreds of millions were wiped off its value too after adidas had overestimated its earning potential.
It’s time, then, for a reset.
“We want Reebok to go back to what it was,” explains Matt O’Toole, Reebok’s president. “Reebok has always been a brand that lived at the intersection of sport and style. With adidas we were in a narrower part of the industry. We want to go back to what Reebok was. We feel like this is our biggest opportunity. The difference going forward will be that we can spread our wings a bit. It’s been challenging sharing resources with the big brother, especially when most of the investments fall towards the adidas brand”.
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The DUP already knows that it is not in a good place politically, but the results of our poll will send a shiver down the spine of its top brass. Even more significantly, they will seriously unsettle MLAs.
With their party down to 19%, and Jim Allister’s TUV on an unprecedented 10%, they will realise that, if something doesn’t change fairly rapidly, many of them could lose their seats.
Sources have been telling this journalist for two months that Arlene Foster’s time at the helm is running out. No moves have materialised against her so far although behind-the-scenes plotting continues but this poll will intensify the pressure on her leadership.