adidas management told a German newspaper that it has reduced debt faster than expected, so it can begin making acquisitions again by the end of the year. Speaking to the German daily Sueddeutsche Zeitung, adidas CEO Herbert Hainer said the company is especially interested in investing in companies in the outdoor space.
Hainer said Reebok, which adidas acquired in 2005, will grow this year in Europe, Asia and Latin America. In the U.S., however, sales will not increase until next year, he reiterated. He said adidas is investing in marketing to revive the brand's popularity and profitability.
Hainer also said adidas will reconsider support for the Olympics after the 2008 Beijing Olympics in light of the continued ban by the International Olympic Committee on displays of the adidas three-band logo on team uniforms. adidas provides equipment to 27 of 28 Olympic disciplines, with the exception of equestrian events.
“After the Olympic games we will reexamine all that does not provide the brand visibility we expect,” Hainer told the German newspaper.
