TIL Desk/Business/Mumbai/ In a major expansion into sportswear and lifestyle wear segment, the Kumar Mangalam Birla-led Aditya Birla Fashion & Retail has signed a long-term licensing agreement with Authentic Brand Group of New York, which has the marketing and branding rights of Reebok, to run the operations of the global sportswear, athletic and lifestyle major in the country and ASEAN markets.
The new agreement between the largest domestic multi-brand fashion retailer and Authentic Brand is an extension of their existing relationship as ABFRL already markets and sells some ABG brands like Forever 21.
The agreement follows the global transfer of ownership of the Reebok brand from Adidas to ABG, which is expected to close in the first quarter of 2022.The deal is subject to customary closing conditions and due diligence, the companies said in a joint statement on Tuesday.
The New York-based Authentic Brands Group is a global brand development, marketing and entertainment company that owns such rights of as many as 30 iconic global brands.
