ABG secures deal as core licensor for Reebok in Asian countries
Authentic Brands Group (ABG) has announced a long-term license agreement with partner Tristate Holdings to become the core licensee and operator for Reebok in China, Hong Kong, Macau and Taiwan.
The deal expands the group's ties with Tristate, who operates other key ABG-owned brands including Nautica and Spyder. Tristate will take on the Reebok-branded retail stores, e-commerce operations and wholesale distribution in China, Hong Kong, Macau and Taiwan.
The license includes footwear for men, women and kids, and sportswear, outerwear and activewear for men, women and kids.
The agreement becomes effective upon the completed transfer of ownership of the Reebok brand following its acquisition from Adidas to ABG. The £1.8 million deal is expected to close in the first quarter of 2022.
Peter Wang, chairman, Chief Executive Officer, Tristate Holdings said: "We are thrilled to build on our longstanding relationship with ABG. 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."
Jamie Salter, Founder and Chairman of Authentic Brands Group added: "Having worked together for several years, we have established a trusted relationship with Tristate and are thrilled to continue our joint success as they take on the role of Reebok operator within Greater China. Securing an expert operating partner in the region has been a strategic focus in order to solidify the brand's position within this crucial market."
Founded in Bolton in 1958, Reebok shot to prominence in the 1980s and was also the first brand to create a spiked running shoe.