Authentic Brands Group has added Reebok to its roster of properties, with the sports brand joining the likes of Juicy Couture, Forever 21, Greg Norman, Eddie Bauer and Barneys New York among others.
ABG acquired Reebok from adidas ‘for a total consideration of up to €2.1 billion’, with the deal expected to close in the first quarter of 2022, reported Fashion United.
ABG will own and manage the intellectual property of Reebok and plans to ’employ its core playbook, connecting strong brands with best in class licensees and a network of partners that seek to optimise value in the marketplace’.
“We’ve had our sights set on Reebok for many years, and we’re excited to finally bring this iconic brand into the fold,” commented Jamie Salter, founder, chairman and chief executive of ABG. “Reebok not only holds a special place in the minds and hearts of consumers around the world, but the brand also has expansive global distribution.
“Adidas has been an incredible steward of the Reebok brand, and we look forward to working with the Reebok team to continue their great work and further its position as one of the world’s leading consumer brands.”
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