Adidas snaps up Five Ten
Through the acquisition of Five Ten, Adidas wants to position itself even better in the outdoor segment and pursue the goal of positioning itself as a leading provider in the outdoor market. To date, Adidas has only been present in the bike segment with eyewear.
"Five Ten is a leading brand in the technical outdoor market and in the outdoor action sports community. Climbers, mountain bikers and other outdoor sports enthusiasts around the world appreciate the products. This acquisition underscores our clear commitment to the outdoors and our ambition to be a leader in the outdoor industry. I am very excited to be working with Charles Cole, Founder and President of Five Ten on this journey," said Rolf Reinschmidt, Senior Vice President of adidas Outdoor."The agreement offers excellent prospects for Five Ten. Supported by the adidas Group, we can finally realize the full potential that the "Brand of the Brave" has to offer," commented Charles Cole, Founder and President of Five Ten.
According to the press release, the adidas Group is one of the world's leading suppliers in the sporting goods industry and offers a wide range of products around the core brands adidas, Reebok, TaylorMade, Rockport and Reebok-CCM Hockey. Headquartered in Herzogenaurach, Germany, the Group has more than 46,000 employees and generated sales of 12 billion euros in 2010.
.Five Ten is a family business that has set itself the goal of producing the best outdoor sports shoes. It offers innovative products for athletes in categories such as climbing and mountain biking. Five Ten was founded by Charles Cole in 1985, is headquartered in Redlands, California and employs 37 people. In 2011, annual net sales are expected to be approximately 16 million euros, according to the press release.
Note: This content has been automatically translated from German. Please report any incorrect translations.