The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
If a deal materialises, the licensing company would add Reebok to a roster of brands such as Juicy Couture, Nine West and Frye. The New York Post first reported the news, citing unnamed sources.
Adidas, Reebok’s parent company, confirmed it was considering a buyer for the sneaker brand in December 2020, although whispers of a sale — and suspicions that ABG would be involved — first circulated in 2019.
Adidas wrote down Reebok’s value to €842 million (about $1 billion) in 2020, while its namesake brand generated is worth nearly 16 times that. Reebok has spent most of the last decade competing with sportswear and sneaker giants like Nike, attempting its hand at headline-making partnerships with celebrities and fashion figures like Cardi B, Victoria Beckham and Kerby Jean-Raymond.
ABG has purchased a slew of fashion brands over the past two years, including Brooks Brothers, Lucky Brand, Barneys New York and most recently, Eddie Bauer.
The category’s biggest brands by market capitalisation report results this week, and will need to show they have a plan to fend off fast-growing competition.
By investing in an elevated product and shopping experience, Spanish retailers Inditex and Mango are seeing tremendous growth despite fierce competition from the likes of Temu and a cash-strapped consumer.
The ByteDance-owned app’s e-commerce play has been met with mixed response from users. Still, sales seem to keep ticking up.
The fashion resale company finally became profitable last year, but it was at the cost of losing consignors who complain that reselling is no longer as lucrative as it once was on the platform.