Reebok to close offices in Europe and Hong Kong

The sportswear giant Reebok announced that it will close its doors in Europe and in Asia, since the sales declined a 16% during the first nine months of the year to just 1.2 billion euro.

ReebokAfter different scandals of fraud in India and a loss of the sponsor of partnership with the American football league (back in May), the company has to adjust their turnover expectations for year 2015 from 3.9 billion to 2.6 million dollars. With these adjusments the group has been forced to restructure its plans, and with those come the closing of Amsterdam's offices as well as the Asia-Pacific office in Hong Kong.

Matt O'Toole, head of Marketing at Reebok said that earlier this year the company announced a reorganization of the brand into six core Business Units (Training, Running, Walking, Studio, Classics and Kids), and this reorganization follows the implementation of a new global-direct operating model between the global organization in Canton and their markets, and a streamlining of the satellite creation activities which will go into effect in January, 2013.