Authentic Brands Group (ABG) and Aditya Birla Fashion and Retail Limited (ABFRL) have signed a long-term licensing agreement, which grants the latter exclusive rights to sell Reebok products in India.
Adidas has drawn up a shortlist of bidders for its Reebok brand as it seeks to draw a line under an ill-fated investment that never lived up to the German sporting goods company's expectations, sources said.
The owner of Tommy Hilfiger and Calvin Klein is focusing on its flagship labels and has sold its heritage brands for $220 million, in a deal that has made Authentic Brands (ABG) a specialist in formal American menswear.
Brooks Brothers has said that Authentic Brands Group and malls giant Simon Property Group have it in their sights with a $300m+ bid and plans to save “at least” 125 stores. But other bids could still derail the plan.