Homebusiness Newscompanies News

    Aditya Birla Fashion & Retail to distribute, sell Reebok products in India, ASEAN countries

    Aditya Birla Fashion & Retail to distribute, sell Reebok products in India, ASEAN countries

    Aditya Birla Fashion & Retail to distribute, sell Reebok products in India, ASEAN countries
    Profile image

    By CNBCTV18.com  IST (Updated)

    Mini

    ABFRL; which has brands like VanHeusen, Peter England, Pantaloons, Allen Solly, and Louis Philippe; has been on an acquisition spree of late and has acquired several brands across fashion segments. The partnership with Reebok will give ABFRL entry into the sports and ethnic wear segment.

    Aditya Birla Fashion & Retail (ABFRL) on Tuesday (December 14) announced a partnership with Reebok to distribute and sell its products in India and other ASEAN countries.
    The partnership with Reebok will give ABFRL entry into the sports and ethnic wear segment, which is growing rapidly. ABFRL estimates the sports and activewear segment to grow at an annual growth rate of nearly 14 percent to 13 billion by FY24.
    ABFRL has brands like VanHeusen, Peter England, Pantaloons, Allen Solly, and Louis Philippe. The company has been on an acquisition spree of late and has acquired several brands across fashion segments.
    The company, which has shown interest in building ethnic wear portfolio, earlier in January this year, acquired a 51 percent stake in bridal couture brand Sabyasachi. According to a Moneycontrol report, ABFRL had also taken a 33 percent holding in Tarun Tahiliani's men’s ethnic wear label. Besides that, the retailer had also acquired Shantanu & Nikhil's apparel brand Finesse in 2019.
    “The transaction marks a significant milestone in the journey of ABFRL, which has evolved its portfolio into a powerhouse of brands across all major fashion and lifestyle segments over the last several years. The addition of Reebok, a marquee global sports and activewear brand will fill an important white space in ABFRL’s portfolio,” the company said in a statement.
    Ashish Dikshit, Managing Director, ABFRL said, “Reebok is one of the leading brands in the sporting goods industry globally and has built a very strong presence in the Indian market over the last two decades. In partnership with ABG, we plan to accelerate Reebok’s business in India, combining its global appeal and salience amongst Indian youth. This transaction further strengthens the ABFRL portfolio and increases our ability to engage with consumers across various need spaces.”
    The transfer of ownership of the Reebok brand from Adidas to Aditya Birla Group is expected to close in the first quarter of 2022.
    The proposed transaction is subject to the successful completion of due diligence, necessary statutory approvals, and signing of definitive agreements.
    Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
    arrow down

      Most Read

      Market Movers

      View All
      CompanyPriceChng%Chng