Adidas says it may sell Reebok — will announce decision in March
Athletic apparel company Adidas might sell its Reebok brand, the company said Monday. "These strategic alternatives include both a potential sale of Reebok as well as Reebok remaining a part of the company," Adidas said in a statement, adding that a decision will be announced in March. Adidas acquired Reebok in 2005 for $3.8 billion with the goal of growing its sneaker and clothing revenue. Time to cash inAdidas is now looking to sell Reebok because the once powerful brand has become a money pit, Nikic said. Though Adidas hasn't officially announced a deal, Nikic and other analysts believe a Reebok sale is all but assured.cbsnews.com
JJ, Kealia Watt donating sneakers to women’s shelter for every pair purchased from ‘His & Hers’ collection
JJ Watt announced Tuesday his newest shoe drop in collaboration with Reebok. This is the first collab between Watt and Reebok featuring a training shoe specifically for women. For every pair of women’s shoes purchased, the couple will be donating a pair to Mission of Yahweh Women’s Shelter. Designed alongside my queen @KealiaOhai, there was only one natural color choice: GoldFor every pair purchased, we will be donating a pair to Mission of Yahweh Women’s Shelter. pic.twitter.com/w3c9kpggXM — JJ Watt (@JJWatt) November 10, 2020Both the men’s and women’s shoes retail at $99.99 and are available online for purchase.
CrossFit CEO resigns over insensitive George Floyd tweet
The CEO of CrossFit is stepping down after his tweet about George Floyd sparked a social media backlash and led to affiliated gyms and Reebok cutting ties with the exercise brand. Greg Glassman said in a statement posted on CrossFit Inc.'s website late Tuesday that he decided to retire. Glassman had apologized earlier for tweets that sparked online outrage by connecting Floyd, a black man who died at the hands of Minneapolis police, and the coronavirus pandemic. On Saturday I created a rift in the CrossFit community and unintentionally hurt many of its members," he said. Floyd died while handcuffed after a white police officer pressed his knee into his neck for several minutes.
CrossFit founder, dropped by Reebok, apologizes about tweet
SILVER SPRING, Md. SILVER SPRING, Md.The founder of CrossFit is apologizing for a Twitter post he made about racial inequality protests after Reebok cut ties with his company. Our partnership with CrossFit HQ comes to an end later this year," Reebok told the AP. Recently, we have been in discussions regarding a new agreement, however, in light of recent events, we have made the decision to end our partnership with CrossFit HQ. We will fulfill our remaining contractual obligations in 2020.Glassman, through his company's Twitter account, wrote, I, CrossFit HQ, and the CrossFit community will not stand for racism.
CrossFit CEO Apologizes for Offensive George Floyd Tweet
CrossFit CEO Greg Glassman apologized for an insensitive tweet about George Floyd, who died at the hands of Minneapolis police, saying that he "made a mistake by the words I chose." "Our partnership with CrossFit HQ comes to an end later this year. "I, CrossFit HQ, and the CrossFit community will not stand for racism," he wrote. @CrossFitCEO: "I, CrossFit HQ, and the CrossFit community will not stand for racism. CrossFit (@CrossFit) June 8, 2020He added that he was "incredulous, angry, and overly emotional" at the Institute for Health Metrics and Evaluation.