Adidas upbeat on Reebok

Sportswear maker Adidas is making significant progress in restructuring its United States brand Reebok, Adidas CEO Herbert Hainer told German newspaper Welt am Sonntag. "We are making significant progress with Reebok," he said when asked whether Adidas was considering selling Reebok, though he added that the restructuring was not proceeding "fast enough". Adidas bought Reebok in 2006 to boost its position in classic sportswear and help it better compete against Nike. Hainer said Adidas wants to grow its Outdoor brand on its own, adding Outdoor sales have grown by a two-digit percentage this year. He said Adidas is investing in Outdoor and has recently renewed its partnership with Reinhold Messner, with an agreement to intensify co-operation in product development, among other things. Adidas launched Outdoor brand in 2007. Keep up with the latest business news from the region with the daily Emirates Business 24|7 newsletter. To subscribe to the newsletter, please click here .