Mumbai: Aditya Birla group will take over the operations of global sportswear brand Reebok in India under a long term licensing agreement with Authentic Brand Group.
The strategic deal will grant Aditya Birla Fashion and Retail Ltd (ABFRL) exclusive rights to distribute and sell Reebok products through wholesale, e-commerce and Reebok branded retail stores in India and other Asean countries, a statement said Tuesday.
Authentic Brand Group, a brand development, marketing and entertainment company, is the global franchisee of Reebok.
The deal marks ABFRL’s entry into the fast-growing sports and active wear segment in the country which over the last few years has been growing rapidly on the heels of increased health consciousness and the adoption of active lifestyles by the young.
This segment is expected to grow to USD 13 billon by FY24 at an annual growth rate of 14 per cent.
Headquartered in New York, Authentic Brands Group owns a portfolio of global media, entertainment and lifestyle brands. Apart from Reebok, its portfolio of brands include Marilyn Monroe, Elvis Presley, Muhammad Ali, Shaquille O’Neal, Sports Illustrated, Eddie Bauer and Spyder.
Authentic Brands Group builds the long-term value for over 30 consumer brands and properties by partnering with manufacturers, wholesalers and retailers. Its brands have a global retail footprint across the luxury, specialty, department store, mid-tier, mass and e-commerce channels, and in more than 7,800 freestanding stores and shop-in-shops worldwide.
PTI
