Adidas Has Transferred The Right To Sell Its Reebok To Shanghai Lianya

On April 18, a number of consumers said they were informed by SMS that their personal information and business in mainland China of Reebok (demand area: 100-200 square meters) would be transferred to Shanghai Lianya Commercial Co., Ltd. on May 1.

The next day, Beijing Youth Daily reported that Adidas said the above information was true. The "personal information" in the SMS mainly refers to the member information and user order information of Reebok brand, and does not involve users and members of Adidas brand. This data transfer is part of its global business adjustment.

Prior to that, on April 8, the wechat public account of dynamic times laboratory disclosed that Adidas had sold its Reebok to authentic brands group (hereinafter referred to as "ABG"), and the final transaction price was 2.1 billion euro (about 4.6 billion yuan). In fact, the deal was concluded as early as August last year, and Reebok was still in the custody of Adidas, and the delivery was not completed until recently. In addition, Reebok has a total of 4000 employees worldwide, including about 450 in Boston headquarters. 150 people have been laid off in this delivery.

Specific to the Chinese market, ABG will Reebok China mainland business operation rights to Shanghai Lianya, the cooperation model in addition to charging licensing fees, there will be sales share. Furthermore, most of Reebok's categories are authorized to Shanghai Lianya, while some minor categories, such as sports underwear, may be sold separately. Currently, Reebok is in active contact with Xiamen brand.

Back in 2006, Adidas acquired Reebok with us $3.8 billion (about 24.2 billion yuan). At that time, adidas' intention to acquire Reebok was to strengthen the confrontation with its old enemy Nike. However, contrary to our wishes, Reebok's performance was poor after the acquisition. In February 2021, the overburdened ADI announced to start the divestiture procedure and eliminated Reebok from the financial report; In May, ADI began bidding to sell Reebok brand; In August, ADI announced an agreement with ABG on the sale of Reebok. Maybe this is the opportunity for Reebok to complete the acquisition again

According to other data, ABG is a brand management company with intermediary attributes, which was founded by Canadian businessman Jamie Salter in 2010 and headquartered in New York; Its core business is to excavate, acquire, cultivate and sell brands, which is called "good doctor of bankrupt brand" in the industry. At present, the company manages more than 50 brands, including outdoor sports brand VOLCOM, skateboarding brand Airwalk, tennis brand prince, sports brand hind and tretorn.

Shanghai Lianya was founded in 2005 and is wholly owned by shan38 Garment Co., Ltd. He also has some experience and accumulation in the operation of leisure brands. He once acted as the agent of American men's casual clothing Nautica and German outdoor brand Jack Wolfskin. By the end of 2021, the two brands had more than 800 stores in mainland China.