Adidas AG ADS 0.99% said it would drop its opposition to Black Lives Matter’s bid to trademark its logo design, which, like the sportswear company’s emblem, features three stripes.

After arguing that the three-stripe trademark could confuse consumers, Adidas retracted its opposition to the Black Lives Matter logo with the U.S. Patent and Trademark Office Wednesday morning.

The sportswear giant has used the parallel stripe logo for more than 70 years, the company noted in the filing. Just 48-hours later, however, Adidas said it had reversed course.

adidas Withdraws Its Opposition to Black Lives Matter's Three-Stripe Design: The German sportswear imprint initially claimed that it was going to “dilute the distinctiveness” of its logo.

In the logo in question, there are a trio of yellow horizontal stripes stacked on top of each other. The application that Adidas had objected to was first filed by the BLMGNF, a national BLM ...