Sporting goods maker Adidas has launched the sale of its Reebok brand in an auction which risks being affected by a political row over possible forced labour in China's western Xinjiang region, three sources said.
Prices of some Chinese limited edition sneakers soared among collectors and speculators following calls for local consumers to boycott global brands that have said they don't source products or yarn from Xinjiang.
More foreign retail brands came under criticism from social media in China on Thursday, in the wake of Beijing's propaganda offensive against H&M over the Swedish company's previously aired concerns on Xinjiang.
As the world continues to deal with the mega-shock that the pandemic has delivered the fashion sector continues to deliver surprises too with the latest on Thursday being a report that Adidas is planning to sell Reebok.
Pambet, who has worked for 34 years at the Annecy-based French skiing brand, is handing over the reins next January to Michael White, the chief commercial officer of Salomon’s owner Amer Sports since 2016.