Adidas boss Kasper Rorsted assumes that the Reebok brand remains with the sporting goods company. When asked whether the problem child Reebok still belong to Adidas in three years, said Rorsted the „World on Sunday“: „Yes, because we are progressing well, especially in terms of profitability.“
He was confident that „with Reebok we will get where we want to go“. Rorsted acknowledged that patience was needed. „It has never been my expectation that the situation can be turned overnight.“
Reebok was recently the problem child at Nike rival Adidas. In the third quarter, the brand’s sales dropped by five percent. Growth in the retrofit models could not make up for the declines in the training and running segment. However, Reebok’s gross margin improved significantly. For the time being, Rorsted’s return on earnings was the first to take precedence over growth: „We do not chase after sales for the sake of sales.“ For the time being, it’s all about losing money.
