Authentic Brands Group is hitting back on rumors that its Reebok brand is up for sale.
In a memo obtained by FN, Steve Robaire, executive vice president of Reebok and Champion at Authentic, denied the rumors to brand partners on Tuesday. “Authentic is not selling Reebok to Anta. This claim is completely false,” he wrote.
The executive added that “Authentic has no plans to divest Reebok — now or ever.”
“In our 16 years of brand ownership, we have never sold a brand,” Robaire noted. “We remain fully committed to the brand’s growth and global success.”
The memo was the result of rumors swirling on Tuesday that Authentic was close to selling Reebok to Chinese sportswear giant Anta Sports. Some reports claimed that the deal had already been finalized.
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With roots dating back 130 years, Reebok was officially launched in 1958. Adidas acquired Reebok in 2006 for $3.8 billion and laid out a turnaround plan for the brand in 2016. The plan was meant to lay “the foundation to unleash its full potential in the highly attractive global sporting goods market.”
Years later, Adidas announced it would sell the brand in December 2020 as a part of the company’s 2025 “Own the Game” strategy meant to boost sales and market share. Adidas made the decision to focus more deeply on the Adidas Brand and divest Reebok.
When Authentic acquired Reebok in 2022 for $2.5 billion, chief executive officer Jamie Salter outlined a goal for the brand to hit $10 billion in annual retail sales globally by the next five years. Authentic also planned to grow Reebok’s digital business, as well as lean into the footwear and apparel designs that have made Reebok unique. Shortly after the deal closed, the company announced multiple plans for licensing and distributing Reebok across the globe.
More recently, Authentic Brands Group found new partners for its Reebok operations in the U.S., Europe and the U.K. after a period of reshuffling.
As reported by FN in January, Authentic has now confirmed that Galaxy Universal has taken over Reebok’s footwear operations, retail stores and e-commerce, as well as leading Reebok’s global product creation, design and sourcing.
In addition, a new joint venture between Galaxy and Batra Group, dubbed GB Brands Europe Limited, will oversee the brand’s operations across Europe and the U.K. This new venture takes over for New Guards Group (NGG), a division of Farfetch, which previously distributed Reebok footwear and apparel in Europe.
