As the closing of the sale of Reebok from Adidas to Authentic Brands Group inches closer, its soon-to-be-owner has sewn up an important deal for distribution in Europe.
On Wednesday, ABG said it will partner with New Guards Group, which is owned by Farfetch Ltd., to be the core operating partner for Reebok across Europe. Under the terms of the deal, New Guards will take on the operations of Reebok’s branded retail stores and e-commerce operations and work to drive wholesale distribution for the label. The deal also appoints New Guards as the exclusive partner to create and distribute high-end collaboration products for Reebok in more than 50 countries including the U.S., Canada and across Europe. The agreement covers footwear, sportswear and activewear for men, women and children.
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“This is a monumental moment for Reebok and ABG,” said Jamie Salter, founder, chairman and chief executive officer of ABG. “We are thrilled to partner with New Guards on Reebok’s European distribution and add their expertise in luxury to Reebok. As an industry powerhouse, New Guards is a respected authority in fashion and luxury with impressive global technology distribution capabilities. Together we will elevate Reebok’s legacy of product innovation, introducing game-changing collaborations and distributing premium products to consumers in key markets across the globe.”
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New Guards, whose stable of brands include Off-White, Palm Angels, Heron Preston and Marcelo Burlon, will work with the Boston-based Reebok Design Group to assure a unified vision for the product. Earlier this month, Reebok said it was not renewing the contract with Kerby Jean-Raymond, founder of Pyer Moss, who had served as its global creative director; he will exit the brand on March 1.
“Reebok is an iconic brand [that] has inspired, served and connected athletes and consumers across the world for generations,” said Davide de Giglio, chairman and CEO of New Guards Group. “At the intersection of sport and culture, it has constantly shaped new expression of style, through product innovation, creativity and unique collaborations on all fields.”
Giorgio Belloli, chief commercial and sustainability officer for Farfetch, believes New Guards’ expertise of bringing luxury and sports to life will help drive sales for the label in the future. “We believe this partnership will also create significant buzz and organic traffic to the Farfetch marketplace, where customers from around the world will be able to discover some of the most exciting collaborations to come,” he said.
The deal will become effective when the ownership transfer is completed. That is expected to happen next week.