ABG signs deal with Tristate to bring Reebok to China
Brand development and marketing company Authentic Brands Group (ABG) has signed a long-term licence agreement with Tristate Holdings Limited, enabling the firm to become the core licensee and operator for Reebok in China, Hong Kong, Macau and Taiwan.
Already a longstanding ABG partner, the deal expands Tristate’s current relationship with the company, adding Reebok to its growing portfolio of ABG-owned brands.
Tristate will take on Reebok’s branded retail store, e-commerce operations and wholesale distribution in the aforementioned regions, as well as holding a licence covering sportswear, outerwear, footwear and activewear across all categories.
“We are thrilled to build on our longstanding relationship with ABG,” said Peter Wang, chairman and CEO of Tristate, in a statement. “Reebok is a highly sought-after brand, and we are confident in its direction under ABG’s ownership and strategic development worldwide. We look forward to bringing Reebok, a brand with incredible heritage and strength, into our 35-plus years’ experience of managing premium brands in the region.”
The deal will become effective upon the completion of the ownership transfer from Adidas to ABG, expected to close in the first quarter of 2022.
The agreement is part of ABG’s strategy to expand Reebok’s global presence, with the company already signing a number of operational-based deals since its acquisition of the brand in August 2021.