02 Mar Authentic Brands Group Finalizes Acquisition Of Reebok
Authentic Brands Group (ABG) announced that it has completed the acquisition of Reebok from Adidas. Becoming its largest acquisition to date, ABG said it is setting a “new path for Reebok” that capitalizes on the brand’s heritage in sports and fashion.
“Reebok is a brand that needs no introduction,” said Jamie Salter, founder, chairman and CEO, ABG. “The Reebok team has done an incredible job of cementing Reebok’s place in the minds and hearts of consumers. Through ABG’s operating model, Reebok will have the ability to evolve and embrace its iconic creativity, quality and innovation. It’s time to let Reebok be Reebok.”
ABG said an essential pillar of its strategy is preserving Reebok’s DNA and a commitment to the brand’s heritage through the formation of Reebok Design Group (RDG) in partnership with SPARC Group. RDG is the global brand hub for the design, development and innovation for footwear and apparel servicing partners around the world.
“Product has always been at the forefront of Reebok, and we are committed to upholding the standard that our brand fans and consumers have come to expect,” said Matt O’Toole, president, RDG. “2021 was a banner year for Reebok and, in part, that was a credit to our focus on the iconic silhouettes that immortalize the brand. Under new ownership, we have an exciting opportunity to reclaim our place in the market and take Reebok to even greater heights.”
“Reebok is one of the few super brands that has the permission to play in any space,” said Nick Woodhouse, president and CMO, ABG. “Its position at the intersection of fashion, sports and culture allow Reebok to be elastic while staying true to its celebrated ethos and unmistakable DNA.”
To support the global structure for Reebok, ABG assembled worldwide players to drive distribution and further Reebok’s business in key territories. Since announcing its agreement to purchase Reebok in August 2021, ABG has secured partners, including New Guards Group, SPARC Group, Tristate, Trend Marketing, Al Boom Marine, Aditya Birla Fashion Retail Limited, The Falic Group, Accent Group, MGS, Bounty Apparel, Distrinando, SM Retail, CRC Sports, HSV Group, PT Mitra, JD Group and Foot Locker, Inc.