Adidas reported a "better than expected" increase in
first-quarter sales yesterday and said an investment company
would sell its remaining minority shares worth about $1.1B,
according to Andrew Fisher of the FINANCIAL TIMES. Belgium-
based Sogedim plans to sell its 26% stake to adidas
directors and outside investors at a "price to be
announced." Half of the shares sold back by Sogedim will go
to adidas Chair Robert Louis-Dreyfus and fellow director
Christian Tourres. The other half will be sold to
"international institutional investors and German retail
investors" (FINANCIAL TIMES, 4/11).
RUNNING: Reebok's marketing of the new DMX running shoe
is examined by Chris Reidy of the BOSTON GLOBE. Reebok's ad
agency, Chicago-based Leo Burnett, feels that Spencer White,
who helped develop the shoe, will make a better pitchman for
the DMX than an athlete. But to "ensure" Spencer is seen as
"cool by other than hardcore runners," ads will team him
with sports stars, including Jennifer Azzi and Desmond
Howard. Sporting Goods Intelligence Publisher John Horan
notes that Reebok is expected to market "far fewer" than
500,000 pairs of the shoes in '97. Reidy: "The idea is to
win over runners a few at a time, and hope that word-of-
mouth praise slowly establishes ... performance credentials"
(BOSTON GLOBE, 4/11).
