Aditya Birla Fashion to sell Reebok products in India, ASEAN countries
The Hindu
Aditya Birla Fashion & Retail Ltd. (ABFRL) said it had entered into a long-term licensing agreement with Authentic Brands Group (ABG), a global brand development, marketing and entertainment c
Aditya Birla Fashion & Retail Ltd. (ABFRL) said it had entered into a long-term licensing agreement with Authentic Brands Group (ABG), a global brand development, marketing and entertainment company, to acquire exclusive rights to distribute and sell Reebok products through wholesale, e-commerce and Reebok branded retail stores in India and other ASEAN countries.
Currently, Reebok brand is owned by Adidas. The transfer of ownership of the Reebok brand from Adidas to ABG is expected to close in Q1 of 2022. The deal marks ABFRL’s foray into India’s fast-growing sports and activewear segment.
“This segment is expected to grow to $13 billion by FY24 at an annual growth rate of 14%. The transaction marks a significant milestone in the journey of ABFRL, which has evolved its portfolio into a powerhouse of brands across all major fashion and lifestyle segments over the last several years,” the company said in a statement.