ABG has signed a long-term licensing agreement with ABFRL, confering the Indian company exclusive rights to distribute and sell Reebok products in India, Bangladesh, Bhutan, Maldives, Nepal and Sri Lanka
This deal allows Aditya Birla Fashion and Retail Limited (ABFRL) to gain traction in the sports and activewear segment. Over the last few years, this segment has been quickly growing as income levels rise and young Indians became more conscious of the importance of adopting active lifestyles. The market is expected to increase at an annual rate of 14% to reach 13 billion US dollars by 2024. The addition of Reebok will fill a significant place in ABFRL’s portfolio, which includes brands such as Ralph Lauren, Hackett, Van Heusen and Ted Baker in the Indian region.
“As Indians get more active, athletic and health-focused, their consumption of apparel and accessories is expected to increasingly change in line with these trends, providing an opportunity to build iconic brands of global repute. Reebok is one of the leading brands in the sporting goods industry globally and has built a very strong presence in the Indian market over the last two decades. In partnership with ABG, we plan to accelerate Reebok’s business in India, combining its global appeal and salience amongst Indian youth”, commented Mr. Ashish Dikshit, Managing Director, ABFRL.
The partnership is in line with Authentic Brands Group strategy of assembling a network of core operating partners around the world in anticipation to the closure of Reebok’s acquisition from adidas in the first quarter of 2022. Find more.