Reebok resumes in 2013

After reporting a fall in Reebok’s second quarter global sales, German sportswear brand Adidas stated it will maintain its €70 million plan to restart Reebok India operations anew in 2013.

Image: Bloomberg

Adidas reported 18% net earnings growth to €165 million in the second quarter, helped by its sponsorship of the London Olympics and the Euro 2012 football tournament. Despite that, sales at its Reebok unit dropped 26% in April-June period, mainly because of the financial misconduct in Indiaas well as the loss of an important National Football League contract in North America.

Adidas AG CEO Herbert Hainer assured the company is not going to sell Reebok and the brand would improve its performance in 2013.