Late last year, we saw adidas sell Reebok to Authentic Brands Group in an unprecedented move for $2.5 billion. Now, just two months into 2022, Authentic Brands Group and New Guards Group have launched a strategic partnership with the intention of growing the Reebok brand.
For those unfamiliar with New Guards Group, it's the holding company behind such global brands as Palm Angels, Off-White and Ambush, so it's likely Reebok will be in safe hands as the group assumes the position of core operating partner across Europe.
As part of this latest partnership, we will see New Guards Group takeover Reebok's brand brick and mortar locations, all e-commerce operations and finally, wholesale distribution. In addition, following the success of the Reebok x Maison Margiela collaboration, NGG will now lead any brand works regarding new collaborations.
The group has already expressed its hopes of developing further luxury collaborations, so we could be in for some serious Reebok heat before we know it. The agreement between Authentic Brands Group and New Guards Group will come into effect upon the full transfer of ownership to ABG, which is expected to happen sometime within the coming months. In other news, Y-3 taps football legend Zinedine Zidane for its "20 Years: Re-Coded" campaign .
