Aditya Birla Fashion and Retail (ABFRL) has signed a long-time period licensing settlement with Authentic Brands Group (ABG) to distribute and promote Reebok merchandise in India and different ASEAN (Southeast Asian) countries. The deal marks ABFRL’s foray into the sports activities and activewear phase, one of the quickest developing style and clothing phase.
“The transaction marks a huge milestone in the adventure of ABFRL, which has developed its portfolio right into a powerhouse of manufacturers throughout all main style and way of life segments over the past numerous years. The addition of Reebok, a marquee international sports activities and activewear logo will fill an crucial white area in ABFRL’s portfolio,” the agency stated in a press statement.
ABFRL, recognised for its way of life and formal put on manufacturers which includes Allen Solly, Louis Philippe, Peter England, Pantaloons, and VanHeusen, has been on an acquisition spree, of late, and has obtained numerous manufacturers throughout style segments. The agency has in particular proven a eager hobby in constructing ethnic put on portfolio and bought key clothier labels. Earlier in January this year, it obtained a fifty one percentage stake in bridal couture logo Sabyasachi, hooked up through Kolkata-primarily based totally clothier Sabyasachi Mukherjee, and later in February partnered with Tarun Tahiliani, taking a 33 percentage conserving in his men’s ethnic put on label house. The retail main had additionally obtained Shantanu & Nikhil’s clothing logo Finesse in 2019.
However, with Reebok the agency now enters the sports activities and ethnic put on category. Sports lively put on marketplace has witnessed increase withinside the previous few years pushed through the fashion closer to athleisure and casualisation. According to ABFRL, the phase is projected to develop to $thirteen billion through FY24 at an annual increase fee of approximately 14 percentage.
Commenting at the transaction, Ashish Dikshit, handling director, ABFRL stated, “As Indians get extra lively, athletic and fitness focussed, their intake of clothing and add-ons is anticipated to an increasing number of extrade in step with those trends, offering an possibility to construct iconic manufacturers of world repute. Reebok is one of the main manufacturers withinside the wearing items enterprise globally and has constructed a totally sturdy presence withinside the Indian marketplace over the past decades. In partnership with ABG, we plan to boost up Reebok’s enterprise in India, combining its international enchantment and salience among Indian youth. This transaction in addition strengthens the ABFRL portfolio and will increase our cappotential to have interaction with purchasers throughout diverse want spaces.”
ABFRL will accomplice with Reebok Design Group (RDG), the newly-hooked up international logo hub primarily based totally in Boston, on all product design, development, innovation, and innovative path to power a unified logo voice and vision, the agency stated.
The switch of possession of the Reebok logo from Adidas to ABG is anticipated to shut withinside the first region of 2022.