Multi-brand developer Authentic Brands Group (ABG) has announced the finalisation of its acquisition for sports retailer Reebok from Adidas.
For what it has said is its largest acquisition to date, ABG has already taken steps to reposition and evolve the iconic sportswear brand through a string of global partnerships with operators, distributors and retailers.
A main pillar of the takeover came in the form of establishing the Reebok Design Group (RDG), in a partnership with Sparc Group. The RDG will act as Reebok’s global design hub for design, development and innovation for its international servicing partners.
“We have an exciting opportunity to reclaim our place in the market…”
“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 of RDG, in a press release.
O’Toole continued: “2021 was a banner year for Reebok, and in part that was a credit to our focus on the iconic silhouettes that immortalise the brand. Under new ownership, we have an exciting opportunity to reclaim our place in the market and take Reebok to even greater heights.”
A multitude of Reebok partnerships formed via ABG will see it continue operations in the US, China, India and other countries.
Most recently, the branding firm also established a deal with Foot Locker, cementing the duo’s relationship and allowing the footwear retailer to exclusively sell select Reebok models in its US stores. A similar deal was struck with JD Sports, allowing Reebok to be carried in JD’s North American and European retail sites.