Authentic Brands Group (ABG) has inked a deal with Foot Locker to exclusively carry certain Reebok shoes in its U.S. stores and website. The partnership will make Foot Locker the exclusive distribution channel for certain high-heat Reebok products, such as basketball shoes and silhouettes from Allen Iverson and Shaquille O’Neal.
ABG, the company behind dozens of brand and retailer acquisitions like Forever 21 and JCPenney, announced that it would acquire Reebok from Adidas in August. The $2.5 billion deal to is expected to close in Q1 2022, but the company has already announced a slew of distribution and licensing partnerships to sell Reebok across the globe.
The Foot Locker partnership represents a new crucial avenue for Reebok to distribute and market its most desirable product.
“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 ABG CEO founder and chairman Jamie Salter. “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.”
Foot Locker will also work with Reebok to design and launch a new line of shoes for fall of 2022 via the Reebok Design Group (RDG), a brand hub that designs and develops core products.
“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.”
Under ABG, Salter said Reebok will see global retail sales of more than $5 billion in 2022. In the next five years, the goal is to hit $10 billion in annual retail sales globally. ABG also plans to grow Reebok’s digital business, as well as lean into the footwear and apparel designs that have made Reebok unique.
In the last few months, ABG has announced partnerships with different licensing groups to help distribute Reebok across the globe. In November, ABG signed a deal with SPARC Group to make it the official licensee and operating partner for Reebok in the U.S. In December, ABG announced a partnership with JD Group to distribute Reebok across thousands of stores in North America and Europe.