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May 17, 2022

Authentic Brands “in talks” to offload Reebok Russia stores

Speculation has surfaced that Reebok owner Authentic Brands Group (ABG) is in talks with Turkish shoe retailer FLO Magazacilik to offload more than 100 of its owned stores in Russia.

By Hannah Abdulla

According to Reuters citing FLO Chairman Mehmet Ziylan, the two are in talks, but he rejected claims a deal for Reebok stores in Russia had been finalised.

Reuters was responding to a story from Russian paper Kommersant which cited a source close to FLO Retailing as saying the deal had been finalised and more than 100 Reebok outlets in Russia had passed to the Turkish company’s control.

Flo Retailing and Authentic Brands Group did not return requests for comment when approached by Just Style.

In March, Authentic Brands Group suspended all branded stores and e-commerce operations in Russia in response to the ongoing conflict in Ukraine.

Adidas announced the same month that as of 28 February, it had formally completed the divestiture of Reebok to ABG in a EUR2.1bn deal.

With Reebok, ABG plans to employ its core playbook, connecting strong brands with best-in-class licensees and a network of partners that seek to optimise value in the marketplace. The brand’s world headquarters remain in Boston.

In February, ABG announced a new and enhanced partnership with specialty athletic retailer Foot Locker, Inc for the Reebok brand within the United States.

Through the agreement, Foot Locker and its brands will deepen their assortment with Reebok and will exclusively carry select Reebok footwear models for men, women and kids in its company-owned stores and complementary e-commerce websites in the United States.

This includes exclusivity of iconic basketball footwear from celebrated names and collections including styles from Allen Iverson and Shaquille O’Neal in the United States.

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