It comes as part of the development of its new five-year strategy, where the firm said following an assessment of strategic alternatives for Reebok, it ultimately decided to begin a formal process “aimed at divesting Reebok”.
The US giant, who acquired the brand in 2006 in a £2.7bn deal, revealed it is going to report Reebok as discontinued operations from the first quarter 2021 onwards.
Adidas added that as a result of the successful implementation of its turnaround plan ‘Muscle Up’ initiated in 2016, the Reebok brand was able to “significantly improve” its growth and profitability prospects.
Adidas also revealed it will unveil its new five-year plan on 10 March.
Adidas CEO Kasper Rorsted said: “The long-term growth opportunities in our industry are highly attractive, particularly for iconic sports brands. After careful consideration, we have come to the conclusion that Reebok and adidas will be able to significantly better realize their growth potential independently of each other.
“We will work diligently in the coming months to ensure a successful future for the Reebok brand and the team behind it.”