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ABG signed a long-term cooperation agreement with SPARC Corporation for Reebok in the US – WWD

Authentic Brands Corporation has signed a long-term strategic partnership with SPARC Corporation to become the core licensing and operating partner for the company. Reebok United States

SPARC, a leading retail business, will oversee sourcing, manufacturing, branded retail stores, e-commerce operations and wholesale distribution for Reebok in the United States Categories include women’s, men’s, and children’s footwear and active and lifestyle clothing for women and men.

ABG’s SPARC division is a 50-50 partnership with Simon Property Group. SPARC’s portfolio includes Eddie Bauer, Brooks Brothers, Aéropostale, Forever 21, Lucky Brand and Nautica.

The addition of Reebok will increase SPARC’s store count to 1,600, expand its e-commerce platform to more than $1 billion, and bring SPARC’s total retail revenue to approximately $5.5 billion.

SPARC will also act as the global hub for the newly formed Reebok Design Team. RDG will be responsible for all design, development, innovation and creation services for its partners worldwide, ensuring that the history, vision and ethos of the brand are preserved. All of these functions will continue to operate out of Reebok’s global headquarters in Boston, led by Matt O’Toole, president, and Todd Krinsky, senior vice president and general manager.

Jamie Salter, founder, president and chief executive officer of ABG said: “Reebok is the most monumental acquisition in ABG’s history. “Given Reebok’s global reach, an essential part of its strategy is to maintain a brand hub that supports and guides a global network of partners to preserve and nurture the pulse and DNA that cannot be. brand confusion. Starting with SPARC for the US, we are assembling a network of strategic operations partners around the world who are committed to supporting innovation, integrity and brand values. We are excited about the expertise that RDG will continue to infuse into the future of Reebok. ”

Marc Miller, CEO of SPARC, added, “These are exciting times for SPARC. We are delighted to welcome Team Reebok and bring one of the world’s most iconic sports brands to our portfolio. This strategic agreement adds footwear as a transformative new vertical to SPARC’s expanding brand platform, whose pillars include Lifestyle and Fashion, including Nautica, Aéropostale, Lucky Brand and Forever 21; American Luxury, which boasts Brooks Brothers; and Sports and Outdoors, newly anchored by Reebok and added by Eddie Bauer. ”

O’Toole added that he is excited about the motivation and support that SPARC will provide to the Reebok team. “Both partners bring significant expertise in global branding, marketing and retail. Together we intend to position Reebok to grow and compete and win in a digitally driven, multi-channel world,” he said.

In addition to securing Reebok’s operations in the US, ABG has also signed leading partners for key regions, including The Falic Group for Latin America, excluding Mexico, Brazil and Argentina, Accent Group Ltd. . for Australia and New Zealand, and MGS for Israel.

The Falic Group will oversee Reebok’s retail stores, e-commerce operations and wholesale distribution in the Latin American region. Accent Group plans to grow the brand in Australia and New Zealand through existing wholesale accounts, direct online sales and multi-brand retail banners. MGS, Reebok’s core operations partner in Israel for the past two decades, has signed a new partnership with ABG to further its commitment to strengthen and grow Reebok across all channels in the region.

SPARC, The Falic Group, Accent Group Ltd and MGS will work with RDG to develop product design, development, innovation and direction for each region, while maintaining the brand voice and vision. unified.

Nick Woodhouse, president and chief marketing officer of ABG said, “Reebok is a remarkable brand and its inclusion on ABG’s platform is being made possible through the collaborative effort of SPARC, RDG and partners our new area cooperation. We look forward to working together to position the brand for long-term development. ”

The agreements come into effect upon completion of the transfer of title to Brand Reebok from Adidas to ABG. The deal, signed in August, is expected to close in the first quarter of 2022.

FOR MORE STORY:

Reebok reunites with Shaquille O’Neal

Salter Talks Reebok’s New Biz Model

Source link ABG signed a long-term cooperation agreement with SPARC Corporation for Reebok in the US – WWD

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