Due to economical problems in 1992 Bernard Tapi sold Adidas to Lyonnais Bank who then sold Adidas to Robert Louis-Dreyfus, who was also the president of the Olympique de Marseille football team. This meant Adidas moved from being a manufacturing and sales based company to a marketing company. In 1997 Adidas’ corporate name was changed to Adidas Salomon AG after they acquired the Salomon Group. In August 2005 Adidas purchased rival company Reebok.
“At the same time sales had been closer to those of Nike in North America. The acquisition of Reebok would also allow Adidas to compete with Nike worldwide as the number two athletic shoemaker in the world. Three months later Adidas released a new version of the Adidas 1, make it better, stronger and faster. On April 11 2006, Adidas announced an11-year deal to become the official NBA apparel provider”.
Adidas’ vision, mission and objective statement.
Vision:
“Passion for sport. This is Adidas. We consistently bring our passion to every single sport, wherever and whenever it is played. Whether it 's football in the park or the 100meters at the Olympics - we have been there, we are there now, and we will always be there. Our dream is to bring our
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