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Reebok, purchased by Authentic Brands Group in August, will now be sold in thousands of JD Group stores thanks to a new agreement between the companies.
The non-exclusive deal comes after ABG announced plans to buy Reebok from Adidas for $2.46 billion — the acquisition is set to close in Q1 2022.
JD Group, which owns JD, Finish Line, DTLR, Shoe Palace, Sports Zone, Sprinter, and Size?, will sell Reebok in more than 2,850 stores in North America and Europe.
Authentic Brands Group already has big plans for Reebok.
- ABG CEO, founder and chairman Jamie Salter previously stated that he expects Reebok to record more than $5 billion in 2022 global retail sales, with the goal to hit $10 billion in annual sales in the next five years.
- The company announced that SPARC Group, a joint entity between Simon Property Group and ABG, will be Reebok’s official licensee and operating partner.
- ABC signed a deal with Aditya Birla Fashion and Retail Limited earlier this month for exclusive distribution and sales rights of Reebok in India, Maldives, Nepal, Bangladesh, Bhutan, and Sri Lanka.
ABG Postpones IPO
Authentic Brands Group was originally planning for an IPO this year, but it announced last month that it would sell private equity stakes to CVC Capital, hedge fund HPS Investment Partners, and a pool of existing stakeholders instead.
The equity sale put the company at a $12.7 billion valuation. Salter says the company will aim for a new IPO date of 2023 or 2024.
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