Aditya Birla Group acquires India distribution and manufacturing rights for Reebok sports brand, Retail News, ET Retail
Aditya Birla Team has acquired the India and Southeast Asian distribution and manufacturing legal rights for the Reebok sports activities manufacturer, a press release mentioned on Tuesday.
A joint push launch by Aditya Birla Vogue and Retail Ltd (ABFRL) and US-centered Authentic Brand names Group claimed the BSE-listed business has signed a “long-phrase licensing arrangement.”
The deal “grants ABFRL special rights to distribute and sell Reebok goods by wholesale, e-commerce and Reebok branded retail retailers in India and other ASEAN nations,” the statement stated.
Reliable Manufacturers Group had ordered Reebok last yr from Adidas for $2.5 billion. Reliable Brands acquires models and in turn presents place or continent-sensible distribution and manufacturing legal rights to other corporation.
Aditya Birla will also inherit Reebok’s community of stores nationwide.
The Reebok legal rights presents Aditya Birla a major toehold in India sportswear and athleisure current market that has been witnessing exponential expansion more than the years and especially for the duration of the pandemic.
This sportswear and athleisure segment is envisioned to expand at an yearly fee of 14% to contact $13 billion by 2024.
New York-dependent Genuine Brand names own a slew of labels which includes Marilyn Monroe, Elvis Presley, Muhammad Ali, Sports Illustrated, Nautica, Izod, Permanently 21, Aéropostale, Juicy Couture, Brooks Brothers between other brands.
