Adidas and Reebok are two of the world’s best-known consumer brands, but they’re in the shadow of Nike, the giant of the sports wear industry. This deal is intended to help them take on Nike.

"This is a once-in-a-lifetime opportunity to combine two of the most respected and well-known companies in the worldwide sporting goods industry," said Herbert Hainer, chairman and chief executive of Adidas-Salomon. Reebok’s top executive, Paul Fireman, said the combination would mean that "we are able to offer an enhanced portfolio (优化的投资组合) of global brands that truly addresses the needs of today’s and tomorrow’s consumers." Reebok will continue to have a separate identity, retaining its name and its headquarters in the U.S. state of Massachusetts.

The enlarged company will have a fifth of the all-important U.S. market for sports shoes and clothes. The plan is to focus the two brands on different segments of the market. The German arm, Adidas, will continue its emphasis on goods for competitive sports while Reebok will be more of a youth and consumer lifestyle brand.