Reebok to grow in Mexico
Sportswear giant Reebok International has increased its shareholding in its Mexican subsidiary, Reebok Mexico, as part of a policy of expansion in the region.
The Financial newspaper El Economista reported that the increased stake gave the company a majority holding of 51%. The terms of the deal have not been disclosed, but it is known the shares accounted for 21% of the company and were purchased from a group of Brazilian and Argentine investors.
Reebok International has big plans for Mexico and is hoping for substantial growth in the near future. Current sales are around US$45 million but Reebok wants to double this over the next 5 years. That would place Mexico alongside its other major markets such as France, Japan, Germany and the United Kingdom.
