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Adidassaid in a statement on Friday it would re-invest the proceeds of the sale into its “Creating the New” strategy
“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” Adidas said in a statement on Friday
The buyer is a newly formed entity primarily owned by US private equity firm Juggernaut Capital Partners
Are you a fan of Mitchell & Ness How do you feel about adidas selling the company to focus their attention elsewhere
via: Reuters
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