Reebok and Vulcabras Form Joint Venture in Brazil

3/25/2008, 7:06 AM (Source: GlobeNewswire)
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Reebok and Vulcabras Form Joint Venture in Brazil


Canton, Massachusetts, March 25, 2008 - The adidas Group and
Vulcabras S.A. today announced that they have agreed to form a joint
venture company to conduct the distribution of Reebok footwear,
apparel and accessories in Brazil and Paraguay. Consequently, the
2008 currency-neutral sales guidance for the Reebok segment has been
raised to mid- to high-single-digit from low- to mid-single-digit.
All other guidance for the adidas Group as provided on March 5, 2008
remains unchanged.

Under the terms of the agreement, Pedro Grendene Bartelle will be the
President and the Chairman of the new joint venture company, which
will be governed by a board of directors to be comprised of Reebok
and Vulcabras executives. The joint venture company will commence
operations on April 1, 2008. Financial results of the joint venture
are planned to be fully consolidated within the adidas Group as of
April 1, 2008. The joint venture agreement expires at the end of
2015.

Since 1992, Vulcabras has been the exclusive and independent
distributor as well as a licensee of Reebok footwear and apparel
products in Brazil and Paraguay. Vulcabras will continue to supply
Reebok products to the joint venture company.

The transaction is subject to regulatory review in Brazil. Financial
details of the transaction will be kept confidential.

Reebok and Vulcabras are also in negotiations to form a joint venture
company in Argentina where a Vulcabras subsidiary has been the
exclusive distributor of Reebok footwear and apparel since 2004.


About the adidas Group
The adidas Group is one of the global leaders within the sporting
goods industry, offering a broad range of products around three core
segments such as adidas, Reebok and TaylorMade-adidas Golf.
Headquartered in Herzogenaurach, Germany, the Group has more than
31,000 employees and sales of ¤10.3 billion.

About Reebok
Reebok International Ltd., headquartered in Canton, Massachusetts, is
a leading worldwide designer, marketer and distributor of sports,
fitness and casual footwear, apparel and equipment. A subsidiary of
the adidas Group, the company operates under the multiple divisions
of the Reebok brand, Reebok-CCM Hockey and the Sports Licensed
Division. For more information, visit Reebok at
www.reebok.com/corporate.



About Vulcabras
Based in Jundiai, Brazil, Vulcabras S.A. is a holding company that by
way of subsidiaries develops, manufactures and distributes footwear
and apparel. Vulcabras produces most of its products at its plants
located in Ceara, Bahia, Sergipe and Rio Grande do Sul in Brazil and
Coronel Suárez in Argentina. Vulcabras is the biggest Brazilian shoe
manufacturer and distributor, has more than 30,000 employees and its
gross sales last year totaled US$1.1 billion.

***

Contacts:


Media Relations
Jan Runau
Chief Corporate Communications Officer
Tel.: +49 (0) 9132 84-3830

Anne Putz
Head of Corporate PR
Tel.: +49 (0) 9132 84-2964

Kirsten Keck
Corporate PR Manager
Tel.: +49 (0) 9132 84-6207

Investor Relations
Natalie M. Knight
Vice President Investor Relations
Tel.: +49 (0) 9132 84-2187

Hendric Junker
Senior Investor Relations Manager
Tel.: +49 (0) 9132 84-4989

John-Paul O'Meara
Senior Investor Relations Manager
Tel.: +49 (0) 9132 84-2751


Please visit our corporate website: www.adidas-Group.com



--- End of Message ---

adidas Group
Herzogenaurach Germany

WKN: 500340; ISIN:
DE0005003404; Index: CDAX, DAX, HDAX, Prime All Share;
Listed: Amtlicher Markt in Frankfurter Wertpapierbörse, Freiverkehr
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Freiverkehr in Börse Stuttgart, Prime Standard in Frankfurter
Wertpapierbörse,
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