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.
Nordstrom, Tod’s and L’Occitane are all pushing for privatisation. Ultimately, their fate will not be determined by whether they are under the scrutiny of public investors.
The company is in talks with potential investors after filing for insolvency in Europe and closing its US stores. Insiders say efforts to restore the brand to its 1980s heyday clashed with its owners’ desire to quickly juice sales in order to attract a buyer.
The humble trainer, once the reserve of football fans, Britpop kids and the odd skateboarder, has become as ubiquitous as battered Converse All Stars in the 00s indie sleaze years.
Manhattanites had little love for the $25 billion megaproject when it opened five years ago (the pandemic lockdowns didn't help, either). But a constantly shifting mix of stores, restaurants and experiences is now drawing large numbers of both locals and tourists.