Adidas said in documents on Tuesday that Groupe Bruxelles Lambert, a major shareholder in the German sportswear brand, has reduced its ownership to 3.51%.
The rich Frère and Desmarais families’ investment holding company, GBL, declared on July 31 that it had reduced its ownership from 7.6% to 5.1%.
Adidas’ stock is up 16% since the beginning of 2024 after a great run last year.
In an email response to queries from Reuters on Tuesday, a GBL representative stated, “We sold some shares but reiterate our support to the company, its management, and its strategy.”
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