Turning to Reebok’s performance in more detail, the brand now looks back on eleven consecutive
quarters of growth, which is proof positive of the successful repositioning of the brand and its
rededication towards fitness. To celebrate this achievement and to illustrate Reebok’s mission to
change how people perceive and experience fitness, the brand launched its new, fully integrated
marketing campaign, ‘Be More Human’, at the beginning of 2015. The campaign underlines that,
through a strong focus on innovation, Reebok is today leading the way in new fitness movements
and further strengthening its overall fitness positioning across the globe, underlined by doubledigit
growth in nearly all markets in 2015. At the same time, the brand continues to face challenges
in its home market. To reset the brand in North America and deliver sustainable and profitable
business growth going forward, we have started to streamline Reebok’s distribution footprint in
this all-important market by reducing the number of factory outlets. We will continue to pursue
that path in 2016. At the same time, we will introduce new concepts to better identify and connect
with our target consumer.