La multinacional estadounidense Authentic Brands Group (ABG), compañía que alcanzase un acuerdo para la adquisición de Reebok a mediados de esta pasado mes de agosto de 2021, ha anunciado haber firmado una asociación estratégica con el Grupo indio Aditya Birla Fashion and Retail Limited (ABFRL), en función del cual será este el que asumirá todas las operaciones de Reebok para la India.A principle of agreement that is presented at the same time as the prelude to the operations scheduled for this next year, through which Abfrl will buy certain assets, not yet specified by the US group, linked to the Reebok business in India.
Based on this first long -term license agreement, once the acquisition of Reebok by ABG has been completed, an operation that is expected to be closed for the first semester of 2022, and waiting for the proper authorizations and, more importantly,From the signing of the final agreement for the sale of the assets indicated, ABFRL will have a series of exclusive rights over Reebok in the region.A capabilities that will result in exclusivity to distribute and sell Reebok products to wholesalers, electronic commerce platforms and Reebok's retail partners, both in India and in other Asean countries (Association of Nations of Southeast Asia), integratedCurrently by the markets of Burma, Brunéi, Cambodia, Philippines, Indonesia, Laos, Malaysia, Singapore, Thailand and Vietnam.
"ABFRL is a fashion industry champion in India with a proven experience when building and operating on a large scale Lifestyle brands throughout the region," explains Corey Salter, director of Operations of ABG, through some somedeclarations released from the American multinational itself.Thus, “we are very happy to expand our existing association with ABFRL, which covers Forever21 and other ABG brands, and we are sure that Abfrl will succeed in consolidating Reebok's position before a growing fan audience in India and SoutheastAsian".
Sports fashion, a booming segment among Indian consumers
As they can explain from ABG itself, this strategic association will contribute to promoting the new global and brand of Reebok that will put into operation once they take the reins of the firm.A new stage that from ABG are willing to develop from the hand of strategic partners, such as ABFRL, that contribute to promoting the innovation and values of the brand.Goals for which, in the case of the Indian company, it will also be associated with the Reebok Design Group Design Central of Boston, thus participating in the design, development, innovations and the creative direction of Reebok, with the objectiveto be able to offer unified voice and brand vision, while fully adapted to the needs of the Indian public and Southeast Asia.
Meanwhile, from Abfrl's point of view, the agreement implies its landing in the field of sports fashion and sports.A sector that, as in the rest of the world, is experiencing rapid growth in the region, driven by the increase in the purchasing capacity of young Indians and its adoption of a healthier lifestyle.Managing this respections by ABG, which suggest that the sports fashion sector will experience, in India, approximate growth of an annual +14 percent until 2024.Exercise for which they estimate a volume of income of 13.000 million dollars.
“As the Indians become more active, athletic and focus on health, their consumption of clothing and accessories is expected to change more and more continuing with these trends, thereby opening the door to be able to settle iconic brands of world reputation”In the region, Ashish Dikshit, General Director of Abfrl adds to this respect."Reebok is one of the leading brands of the sports articles industry worldwide, and has built a very strong presence in the Indian market during the last two decades".A footprint that, in association with ABG, "plan to accelerate", promoting "the Reebok business in India, combining its global attraction with its relevance between Indian youth".At the same time showing the operation with an agreement that "even more strengthens the ABFRL portfolio and increases our ability to interact with consumers through different spaces for their needs".