SPARC will oversee sourcing, manufacturing, branded retail stores, e-commerce operations and wholesale distribution for Reebok in the US.
Authentic Brands Group, which entered into a deal in August to acquire Reebok for $2.5bn, has signed a long-term partnership with its SPARC division to become the core licensee and operating partner for the athletic footwear and apparel company in the US. SPARC, a joint venture between Authentic Brands and Simon Property Group, will oversee sourcing, manufacturing, branded retail stores, e-commerce operations and wholesale distribution.
The agreement with SPARC will go into effect upon the completion of Authentic Brands’ acquisition of Reebok, which is expected to occur in the first quarter of 2022.
“We are pleased to welcome the Reebok team and bring one of the world’s most iconic athletic brands into the portfolio,” said Marc Miller, CEO, SPARC. “This strategic agreement adds footwear as a transformative new vertical to SPARC’s expanding brand platform, with pillars including lifestyle and fashion.”
The addition of Reebok will increase SPARC’s store count to 1,600 doors, grow its e-commerce platform to more than $1bn and bring its total retail sales to approximately $5.5bn.
