Topeka, Kan.-based Collective Brands Inc. announced this week it had acquired 1980s basketball brand Above the Rim from Reebok International, to be developed by the company’s Collective Licensing International division.
Terms of the deal were not disclosed. “We have been looking to add a basketball brand to our portfolio, so this is tremendous for us,” Bruce Pettet, president and CEO of Collective Licensing, told Footwear News. “It’s a great brand with a great heritage, and as an aspirational lifestyle brand, it’s an exciting addition.”
Pettet added that Collective would work to identify global licensees for the brand as quickly as possible — hopefully in the next 60 days — and would determine at that point what the product line would look like and when it might be in stores. “We’re anxious to get the brand in the marketplace as soon as possible,” he said.
In related news, Collective Licensing also announced last week it had signed a licensing agreement with Pacific Solutions Inc. to develop a line of school supplies and mobile phone accessories under the Airwalk brand name. Reps for the company told FN the line will be targeted to Collective’s retailers, which may include Payless ShoeSource, where the Airwalk footwear line is sold. Product will be available for the back-to-school season.