Wednesday, August 03, 2005
Adidas India studying Reebok takeover
The Indian arm of German sports goods and accessories brand Adidas is gauging the fallout of the parent company's global takeover of arch-rival Reebok in a $3.8 billion deal. The sports goods leading brand has two companies in India -- Adidas India Marketing Pvt Ltd and Adidas India Pvt Ltd, which is a subsidiary of Adidas-Salomon AG. While Reebok had revenues of Rs 2.5 billion in 2004 and targeted Rs 5 billion in the current year, Adidas aims at four-fold growth in sales in the next three years. Globally, Adidas is the number two brand in the sports goods industry after Nike, while Reebok is the number three player in terms of sales.