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Reebok’s U.S. operations have a new owner.
According to a new report by Retail Dive, Ivy Solari, vice president of digital commerce at Reebok, told an audience at National Retail Federation’s Big Show conference on Sunday that Reebok Design Group and the brand’s U.S. operations have been acquired by Galaxy Universal.
Authentic Brands Group, which bought Reebok from Adidas in 2021 for $2.5 billion, confirmed the news to FN without any further detail.
As per Retail Dive, Reebok’s brick-and-mortar presence currently focuses on outlets, but under new ownership Solari said the company is, “looking forward to opening some more full-price or experiential stores.”
“We really do believe that there is a great connection between setting and experience, purchasing and then returning as a consumer,” Solari said on Sunday, according to Retail Dive. “That is in our long-term roadmap, hopefully into 2025, into 2026.”
Reebok joins Galaxy Universal’s portfolio of athletic brands including And1, Gaiam and Tony Hawk. The company is also the licensee of the Justice and London Fog brands.
This news follows a round of layoffs that hit Reebok in December. Last month, Authentic confirmed to FN that Sparc group reorganized Reebok’s footwear business as it looks to transfer licenses to new partners and focus more deeply on apparel.
At the time, Authentic did not confirm which specific footwear divisions were impacted by the cuts, but employees in merchandising, design, product management, talent acquisition and innovation shared on LinkedIn that their roles had been eliminated due to a restructuring at Reebok.
Earlier in December, Authentic terminated its license with New Guards Group (NGG), a division of Farfetch, to distribute Reebok footwear and apparel in Europe. Under the terms of the former deal, NGG had operated the European operations of Reebok’s branded retail stores and e-commerce, and worked to drive wholesale distribution for the label.
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