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#1: Kein Icon We are pleased to partner Autor: Elida BeitragVerfasst am: Mo Sep 26, 2016 9:58 am
The transaction, which is subject to adidas sale uk customary closing conditions, is expected to close in Q2 2016. As a result of the transaction, the adidas Group will record a one time positive P&L impact at the time of closing. The amount, which is expected to be in the low to mid double digit million euro range, will be reported in other operating income as part of the Group’s net income from continuing operations. The Group has decided to re invest the proceeds from the divestiture to accelerate initiatives that are part of the company’s ‘Creating the New’ strategic business plan and which are aimed at further strengthening the platform for ongoing top and bottom line growth.

“Mitchell & Ness is a strong lifestyle brand that is well known for adidas kids uk its authentic headwear and apparel craftsmanship. However, our focus is more on performance sport and operating a brand portfolio with a clear agenda to unleash the potential of athletes and inspire consumers to live active lives. Nostalgia headwear and apparel is not core to this strategy and the sale of Mitchell Ness will allow us to reduce complexity and pursue our target consumer more aggressively with our core brands, ” said Herbert Hainer, CEO of the adidas Group. “We are pleased to partner with industry veteran Kevin Wulff and the existing Mitchell & Ness management team and employees to build and grow upon the success of the Mitchell & Ness brand, ” said Craig Hille, Managing Director of Juggernaut Capital Partners. Chelsea Football Club and adidas AG announced today that they have mutually agreed to terminate their existing partnership agreement prematurely. The agreement will now end on June 30, 2017 and not, as originally agreed, on June 30, 2023. adidas has been sponsor and sportswear supplier for Chelsea Football Club since 2006. This mutual agreement on early termination of the agreement will allow Chelsea Football Club to enter a new equipment agreement with a competitor of adidas AG. It will allow adidas AG to continue to implement its sports sponsorship strategy as set out in adidas kids uk its strategic business plan ‘Creating the New’.

Under this plan, adidas AG will partner with fewer assets on a team level. As compensation for the early termination of the contract, the adidas Group will receive a payment from Chelsea Football Club in 2017 that will already positively impact the Group’s net income this year. adidas AG wishes to expressly thank Chelsea Football Club for their always professional and successful collaboration, which has included, among other successes, the time of their UEFA Champions League title in 2012 as well as two Premier League titles. adidas Tennis has today unveiled the latest addition to the Energy Pack with the release of adidas nmd women the Barricade 2016 Hannibal.

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