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The Silicon Review Asia

Aditya Birla Fashion and Retail will take over Reebok India’s operations in the Q1 of 2022

Aditya Birla Fashion and Retail will take over Reebok India’s operations in the Q1 of 2022

The deal has made sure that ABFRL has laid a strong foundation in India’s fast-growing activewear and sports goods

Aditya Birla Fashion and Retail (ABFRL) has recently made an announcement that the company has signed a long-term deal with Reebok to gain exclusive rights for distributing and selling the company’s products in India and other ASEAN countries. The deal has made sure that ABFRL has laid a strong foundation in India’s fast-growing activewear and sports goods. As of now, Reebok’s ownership is with Adidas, and according to the deal, the ownership will be transferred to ABFRL in the first quarter of 2022.

In its press release, the company has stated that the activewear segment has gained immense traction in the last few years as people are becoming more health-conscious, and the adoption of an active lifestyle has increased. The activewear segment is projected to grow up to $13 billion by the end of FY24. MD of ABFRL, Ashish Dikshit, has stated that Indians are becoming more active and health-focused, which has increased the consumption of sports accessories and apparel. He furthermore added that these changing trends had provided an opportunity for brands to become iconic on a global scale. The latest transaction will definitely strengthen ABFRL’s portfolio, and along with that, the company is also aiming to drive growth and innovation.

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