Hainer Says Adidas Making Significant Progress With Reebok
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Hainer Says Adidas Wants To
Grow Its Outdoor Brand |
adidas AG Chair & CEO Herbert Hainer yesterday told German newspaper Welt am Sonntag that the company is "making significant progress in restructuring" Reebok, according to REUTERS. When asked whether he is considering selling the Reebok brand, which adidas acquired in '06, Hainer said, "We are making significant progress with Reebok." Hainer added that the restructuring is "not proceeding 'fast enough.'" Meanwhile, Hainer also indicated that adidas "wants to grow its Outdoor brand on its own," pointing out that Outdoor sales are up by 2% this year. Hainer said that adidas is investing in Outdoor and has "recently renewed its partnership" with mountaineer Reinhold Messner, "with an agreement to intensify cooperation in product development, among other things" (REUTERS, 6/14).
PONY EXPRESS: Patriots WR Randy Moss' agent, Tim DiPiero, said Moss and San Diego-based Pony have "mutually agreed to terminate their license and endorsement relationship early." DiPiero in a statement added, "It has been difficult not being able to wear his signature cleat due to NFL licensing requirements, so they have decided to go in different directions" (BOSTON.com, 6/11).
ERUPTION: Musician Eddie Van Halen Friday filed suit against Nike, alleging that the company "used the trademarked striped design from his guitar on their new line of 'Dunk Lows' tennis shoes." Van Halen, who recently launched his own line of striped shoes under his EVH brand, claims Nike is doing "irreparable harm and damage" to his design. He is seeking "general and punitive damages, all profits arising from the sales of 'Dunk Lows' and a permanent injunction halting production of the Nike shoes" (KTLA.com, 6/12).
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