ABG Cements Reebok's Position with Foot Locker, Inc. Through New Partnership
On February 17, 2022, Authentic Brands Group (ABG) announced a new partnership with Foot Locker, Inc. (NYSE: FL) to enhance the Reebok brand's presence in the U.S. market. This agreement allows Foot Locker to exclusively carry select Reebok footwear models, including iconic basketball styles from Allen Iverson and Shaquille O'Neal. The partnership aims to elevate customer experience and expand product offerings, aligning with Foot Locker's strategic growth plans. The ownership transfer of Reebok from adidas to ABG is anticipated to finalize in Q1 2022.
- Exclusive access to select Reebok footwear models enhances Foot Locker's offerings.
- Partnership aligns with Foot Locker's strategic growth plans, potentially boosting sales.
- Increased brand visibility for Reebok through Foot Locker's extensive retail network.
- None.
NEW YORK, Feb. 17, 2022 /PRNewswire/ -- Authentic Brands Group ("ABG"), a global brand development, marketing and entertainment company, today announces a new and enhanced partnership with Foot Locker, Inc. (NYSE: FL), the New York-based specialty athletic retailer, for the Reebok brand within the United States.
Through this agreement, Foot Locker, Inc. and its brands will deepen their assortment with Reebok and will exclusively carry select Reebok footwear models for men, women and kids in its company owned stores and complementary e-commerce websites in the United States. This includes exclusivity of iconic basketball footwear from celebrated names and collections including styles from Allen Iverson and Shaquille O'Neal in the United States.
"We are thrilled to announce our Reebok partnership with Foot Locker as they are an essential part of our strategic growth plan for the brand," said Jamie Salter, Founder, Chairman and Chief Executive Officer at ABG. "We are excited to partner with a retailer who holds such an important position with both sports and lifestyle audiences and look forward to driving brand heat with new and iconic product."
"We are incredibly excited to partner with ABG and Reebok to gain exclusive access to industry renowned product," said Richard Johnson, chairman and CEO of Foot Locker, Inc. "This partnership builds on our commitment to elevate the customer experience, offer consumers high heat product from the biggest brands, and build collaborations with the biggest names in sneaker culture."
Foot Locker, Inc. will work with Reebok Design Group ("RDG"), the global brand hub for design, development and innovation, and the supplier of core product categories. Foot Locker, Inc. anticipates the rollout of an expanded Reebok assortment across its various banners to begin in Fall 2022.
The transfer of ownership of the Reebok brand from adidas to ABG is expected to close in Q1 of 2022.
About Authentic Brands Group
Authentic Brands Group (ABG) is a brand development, marketing and entertainment company, which owns a portfolio of global media, entertainment and lifestyle brands. Headquartered in New York City, ABG elevates and builds the long-term value of more than 30 consumer brands and properties by partnering with best-in-class 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 around the world.
ABG is committed to transforming brands by delivering compelling product, content, business and immersive experiences. It creates and activates original marketing strategies to drive the success of its brands across all consumer touchpoints, platforms and emerging media. ABG's portfolio of iconic and world-renowned brands includes Marilyn Monroe®, Elvis Presley®, Muhammad Ali®, Shaquille O'Neal®, Dr. J®, Greg Norman®, Neil Lane®, Thalia®, Sports Illustrated®, Reebok®*, Eddie Bauer®, Spyder®, Volcom®, Airwalk®, Nautica®, Izod®, Forever 21®, Aéropostale®, Juicy Couture®, Vince Camuto®, Lucky Brand®, Nine West®, Jones New York®, Frederick's of Hollywood®, Adrienne Vittadini®, Van Heusen®, Arrow®, Tretorn®, Tapout®, Prince®, Vision Street Wear®, Brooks Brothers®, Barneys New York®, Judith Leiber®, Herve Leger®, Frye®, Hickey Freeman®, Hart Schaffner Marx®, Thomasville®, Drexel® and Henredon®. Pending acquisition in Q1 2022*.
For more information, visit authenticbrands.com. Follow ABG on Twitter, LinkedIn and Instagram.
About Foot Locker, Inc.:
Foot Locker, Inc. leads the celebration of sneaker and youth culture around the globe through a portfolio of brands including Foot Locker, Kids Foot Locker, Champs Sports, Eastbay, atmos, WSS, Footaction, and Sidestep. With approximately 3,000 retail stores in 28 countries across North America, Europe, Asia, Australia, and New Zealand, as well as websites and mobile apps, the Company's purpose is to inspire and empower youth culture around the world by fueling a shared passion for self-expression and creating unrivaled experiences at the heart of the global sneaker community. Foot Locker, Inc. has its corporate headquarters in New York. For additional information, please visit https://www.footlocker-inc.com.
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SOURCE Foot Locker, Inc.
FAQ
What is the new partnership between Foot Locker and ABG about?
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