Reebok’s creative director, Kerby Jean-Raymond, will leave his job at the end of February. This is the latest move before the brand’s transition from Adidas to ABG-Authentic Brands Group is completed. New distribution agreements and 150 redundancies were the other decisions in preparation for the transition. Brand objectives? To close the next financial year at over 5 billion, in order to reach 10 billion in the next 5 years.
Reebok’s new course
In August, Adidas, which had owned Reebok since 2006, announced that it had sold the brand to ABG for 2.1 billion euros. The closing is expected to take place by the first quarter of 2022. But the big moves have begun before this transition is complete. Many, as Footwear News reports, concern distribution. Since November, ABG has signed new agreements with Sparc for the US, ABFRL for India, Tristate Holdings for China, and Al Boom Marine (ABM) for the Middle East and North Africa.
150 redundancies
Reebok employs 4,000 people worldwide, including 450 at its Boston headquarters. Boston, as Footwear News reports, will be hardest hit by the 150 redundancies. One of the most notable cuts is Kerby Jean-Raymond, who will step down as designer on March 1. Now, the market is waiting to see how the Reebok team will evolve and what other decisions will be taken by ABG. Signals from the States, where the brand marked a +76% in the first half of the year, are comforting.
Left, a re-edition of the Classic Leather; right, sneakers designed in collaboration with Maison Margiela
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