Authentic Brands Group (“ABG”), a global brand development, marketing and entertainment company, today announced the signing of a long-term license agreement with Tristate Holdings Limited (“Tristate”; SEHK Stock Code: 458), a longstanding ABG partner and recognized global leader of premium brands, to become the core licensee and operator for Reebok in China, Hong Kong, Macau and Taiwan.
With the Reebok agreement, ABG expands its current relationship with Tristate, who is the operator for other key ABG-owned brands including Nautica and Spyder. Tristate will take on the Reebok branded retail stores, e-commerce operations and wholesale distribution in China, Hong Kong, Macau and Taiwan. The license includes footwear for men, women and kids as well as sportswear, outerwear and activewear for men, women and kids.
“We are thrilled to build on our longstanding relationship with ABG,” said Peter Wang, Chairman and CEO of Tristate. “Reebok is a highly sought-after brand, and we are confident in its direction under ABG’s ownership and strategic development worldwide. We look forward to bringing Reebok, a brand with incredible heritage and strength, into our 35-plus years’ experience of managing premium brands in the region.”
“Having worked together for several years, we have established a trusted relationship with Tristate and are thrilled to continue our joint success as they take on the role of Reebok operator within Greater China,” said Jamie Salter, Founder, Chairman and of ABG. “Securing an expert operating partner in the region has been a strategic focus in order to solidify the brand’s position within this crucial market.”
The agreement becomes effective upon the completed transfer of ownership of the Reebok brand from adidas to ABG. The deal is expected to close in the first quarter of 2022.