Adidas buys Reebok to take on Nike

Bob Marley sporting AdidasAdidas said that it has agreed to buy Reebok for $59 a share, or $3.8 billion, combining two brands with links to both athletics and lifestyle.

They will be going up against sporting giant Nike.

Nike’s annual sales are approximately $14 billion worldwide. Adidas has about $8 billion in annual sales while Reebok has nearly $4 billion.

Adidas apparels were first made popular by Run DMC. They were the driving force behind the Adidas jumpsuit craze of the 80’s.

Even Bob Marley was a fan of Adidas, being an avid footballer.

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