Adidas

Adidas to revive troubled Reebok brand in India

Adidas to revive troubled Reebok brand in India

Sportswear giant Adidas AG has decided to revive the troubled Reebok brand, despite bigger than previously estimated fraud in Indian arm of Reebok.

The financial discrepancies in Reebok India have reportedly made nearly 70 per cent bigger dent than previously estimated. According to Adidas, the fraud in the Indian arm of Reebok in 2011 hit the company by euro 211 million (about Rs 1,500cr), as compared with its previous year's estimate of euro 125 million.