Adidas Calls In Fitness Experts In Hopes Of Reviving Reebok
Reebok is "turning to sponsorship deals with prominent fitness groups to try to revive a venerable name that has faded" since it became part of Germany's adidas sportswear group eight years ago, according to REUTERS. The sports shoe and clothing brand is "winning converts among hardcore sports enthusiasts and aims to build on this support to make up ground it has lost to rivals such as global market leader Nike." Former triathlete Steve Antcliff said, "They had a sticky patch, but now the shoes and gear are good." Adidas "hopes to revive Reebok" after paying $3.8B for the company in '05 "in order to take a larger slice of business" in the U.S., the world's "largest sportswear market" with sales of $80B (REUTERS, 10/2).