Reebok said on Monday it would sell Ralph Lauren Footwear Co. Inc. to Polo Ralph Lauren Corp. for $110 million, allowing Reebok to focus on its main athletic business and giving Polo a boost in growing its luxury accessories business on its own.
Reebok and Polo Ralph Lauren entered into a pact in 1996 that gave the athletic footwear maker the right to sell footwear under the Ralph Lauren Footwear label. Reebok International Ltd. expects a gain from the sale.
