Itochu Corporation has announced that it has acquired the rights to distribute, market and licence Reebok in Japan from the brand’s owner, Authentic Brands Group (ABG).
Itochu will work together with ABG and Locondo, a Japanese shopping mall company, as well as other partners, to develop the brand through retail and e-commerce, with the goal of enhancing Reebok’s presence in the region.
In a release, Itochu said it is aiming to achieve sales of 20 billion yen through retail in the next five years.
It added that it plans to establish brand growth through prioritising customer needs, offering premium high-demand products and enhancing its earnings platform.
The new deal follows a string of similar agreements by ABG for Reebok, which it acquired from Adidas back in August 2021.
Since the acquisition, the brand group has struck a number of global partnerships to introduce or expand Reebok into various markets, including India, South Korea, Canada and China.