As 2022 gets closer, the strategy for Reebok‘s revival is slowly coming into focus.
Authentic Brands Group (ABG), the retail and marketing powerhouse that acquired Reebok from Adidas earlier this year, has announced a partnership with JD Group to distribute Reebok across thousands of stores in North America and Europe. Under the non-exclusive agreement, Reebok apparel and footwear will be available in more than 2,850 stores owned by JD, including JD, Finish Line, DTLR, Shoe Palace, Size?, Sprinter and SportZone as well as their associated e-commerce platforms.
The new partnership is the latest detail to emerge regarding strategies for Reebok under ABG, the company behind dozens of brand and retailer acquisitions, including Forever 21, Barneys New York and JCPenney. ABG’s Reebok acquisition is set to close in Q1 2022 and products are expected to roll out to JD stores in the fall.
“It’s an honor to welcome JD to our strategic network of retail partners who are committed to supporting Reebok’s brand integrity, vision and values,” said ABG CEO, founder and chairman Jamie Salter in a release. “JD’s expanded support of Reebok as well as their new commitment to carrying the brand in their stores in North America and Europe speaks volumes to the brand’s cultural influence. This partnership solidifies Reebok’s position with an important global retailer.”
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Salter previously told FN that Reebok will see global retail sales of more than $5 billion in 2022. In the next five years, the goal is to hit $10 billion in annual retail sales globally. ABG also plans to grow Reebok’s digital business, as well as lean into the footwear and apparel designs that have made Reebok unique.
ABG has already announced other deals with licensing groups to help distribute Reebok across the globe. Last month, ABG said that SPARC Group, a joint venture between Simon Property Group and ABG, will be the official licensee and operating partner for Reebok in the U.S. Under the agreement, SPARC will handle sourcing and manufacturing and oversee retail and e-commerce operations for Reebok in the U.S.
Earlier this month, ABG signed a deal with Aditya Birla Fashion and Retail Limited (ABFRL) to give the Indian fashion company exclusive distribution and sales rights for Reebok products in India, Bangladesh, Bhutan, Maldives, Nepal and Sri Lanka.
With JD Sports, ABG kicks off its first major retailer deal in North America and Europe.
“Reebok is an iconic global lifestyle brand with strong resonance across all JD channels and we are thrilled to partner with ABG to introduce new and exciting products to our legacy customers and JD’s growing Gen Z audience,” said Peter Cowgill, the executive chairman of JD, in a release. “Reebok fits squarely into our sports and active lifestyle verticals, and we look forward to maximizing Reebok’s potential by building on the brand’s incredible heritage.”
