At the beginning of this month, the athletic footwear and clothing company Reebok announced its plan for moving its headquarters to the city of Boston. This decision emerges amidst a general overhaul of the company’s structure.

In recent years, Reebok has struggled to keep up sales numbers and has underperformed compared to other companies that fall under the umbrella of the Germany-based Adidas Group, such as TaylorMade.

In April 2016, the Adidas Group’s new CEO Kasper Rorsted took over and announced plans to ensure a positive future for Reebok by restructuring the brand internally. One part of his vision for the company was to leave behind the current 350,000-square-foot office spaces in Canton, MA and relocate to a more fitting environment, i.e. Boston. However, while the company wants to move to a bigger city, it also plans on downsizing its new headquarters by looking for spaces of only around 200,000 square feet.

Furthermore, this move will also affect around 300 of its current employees. Some will be offered alternative positions at other locations, such as at Adidas’ North American headquarter in Portland, OR. The rest will most likely lose their jobs.

With its move to Boston, the company hopes to attract more innovative minds and take advantage of its urban setting, a strategy that other companies have followed in the recent years. Boston, with its many universities and innovative-oriented environment, has become a hub for startups as well as established businesses in recent years.

Boston Mayor Marty Walsh is welcoming this recent news and took to social media to express the city’s recent evolution into an attractive location for big businesses. On Facebook Walsh said, “ A lot of people are looking to see what’s happening in our city. People are excited about Boston. There’s a rejuvenation.”

Reebok is not the first sportswear company in recent years that has relocated its main offices to somewhere in the Greater Boston Area. Only last year, the popular shoe brand Converse, which is part of Nike Inc., has opened its global headquarters at the waterfront in Boston’s North End near the TD Garden Stadium. Furthermore, in 2015, the well-known athletic shoe company New Balance officially relocated to this city. Its new headquarters can now be found in the Brighton-Allston neighborhood next to the Massachusetts Turnpike.

However, big companies from other industries have also decided to open offices in Boston. The most current example of this is the conglomerate company General Electric, which is in the process of moving headquarters from Fairfield, CT to Boston’s Seaport District.