Reebok’s owner is rounding out the Asian operations for the footwear powerhouse with a South Korean distribution deal.
LF Corp. will distribute Reebok apparel and footwear for men’s, women’s and kid’s through wholesale and e-commerce channels, as well as Reebok branded retail stores in South Korea, where the sneaker brand currently has over 30 points of sales, according to Authentic Brands Group (ABG).
“LF is a leading operator in South Korea and has proven expertise in developing and operating global lifestyle brands across the region. We are pleased to partner with LF as we are confident in their ability to grow Reebok’s position in South Korea while retaining the brand’s unique DNA,” Corey Salter, ABG’s chief operating officer, said.
“We are honored to welcome Reebok into our portfolio. Reebok has a celebrated heritage, and we are excited to bring those elements to our consumers in an authentic and meaningful way. With more than 40 years of experience in the fashion industry, we are poised to expand Reebok’s presence across the region,” Soung Kim, LF’s general manager and head of the Reebok division, said.
Under the terms of the agreement, LF will work with Reebok Design Group, the Boston global brand hub, on footwear and apparel design, as well as creative direction, to present a unified voice and vision. ABG said the deal represents a “significant milestone” for LF because Reebok is now the “most influential global sports brand within their portfolio.”
ABG last month closed on its $2.46 billion acquisition of the Reebok brand from Adidas. Since the deal was announced last August, ABG has been ramping up the infrastructure needed to hit the ground running on brand distribution. In the process, the brand management firm has amassed a slew of operating partners.
Building out the business has included a strategic partnership with JD Sports Fashion, and a deal with Foot Locker. In addition, ABG has lined up partners for Greater China and India. And it also inked a deal with New Guards Group to helm luxury collabs for Reebok and serve as the core operating partner for Reebok across Europe. Closer to its design-hub base in Boston, ABG last month signed a deal with SportCheck, a multichannel Canadian retailer for the Reebok brand in Canada.
Established in 1958 in the U.K., Reebok International Ltd was acquired by Adidas for $3.8 billion in 2006.