Wednesday, 29 May 2013

Adidas sticks with Reebok despite 265m-euro writedown

German sportswear group Adidas intends to stick with its troubled Reebok business even though the company had to make a 265-million euro writedown on the brand at the end of 2012.

Erick Haskell , MD-India ops, Adidas Group told CNBC-TV18 that the company intends to open 100 new stores in FY14. "That crisis  is really behind us. The Reebok business is doing extremely well and growing. We have opened about 50 new Reebok stores in India this year. We are past that unfortunate situation and completely focused on the business now."
http://www.moneycontrol.com/news/business/adidas-sticksreebok-despite-265m-euro-writedown_882346.html

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