ABG signs operating partner for Reebok for Middle East & Africa

07 Feb '22

2 min read

Pic: Authentic Brands Group

Authentic Brands Group (ABG), a global brand development, marketing and entertainment company, has announced that Al Boom Marine (ABM), a company under the portfolio of Scope Investment, will become the operating partner for Reebok in the GCC, the Middle East including Iraq and Lebanon, and North Africa including Algeria, Egypt and Morocco.

The agreement includes footwear for men, women and kids as well as activewear and sportswear for men and women. ABM is a premium operator of more than 40 global brands, 60 retail stores and 300-plus active wholesale accounts throughout the GCC and the MENA region. They specialise in retail and the distribution of lifestyle products, including footwear, eyewear, apparel and accessories. As part of the agreement, ABM will partner with Reebok Design Group (RDG), the brands global hub, for product design, development, innovation and creative direction, ABG said in a press release.

“Our partnership with Al Boom Marine cements our strategic plan to expand Reebok’s presence in the Middle East and North Africa region,” said Corey Salter, chief operating officer at ABG. “Together we will enhance Reebok’s strong appeal with a core and growing consumer base and drive brand growth in this important market.”

“This year Al Boom Marine turns 35, and we are pleased to celebrate this milestone by adding Reebok to our growing brand portfolio,” said Leonard Erlank, chief operating officer at Al Boom Marine. “Our company is experiencing rapid growth, and we are proud to align with ABG who has chosen to partner with us on this incredible athletic lifestyle brand.”

“We at Scope Investment are delighted to announce that our retail and distribution business, Al Boom Marine, strikes yet another strategic alliance. The latest association between Al Boom Marine and ABG certainly sets the ground for Reebok to reach its full potential in the MENA region,” said Fareed Bilbeisi, CEO at Scope Investment. “At Scope Investment we are constantly seeking to create value for our businesses, support them in achieving growth, and believe in long-term partnership with international brands.”

This agreement becomes effective upon the completed transfer of ownership of the Reebok brand from Adidas to ABG. The deal is expected to close in the first quarter of 2022.

Fibre2Fashion News Desk (RR)

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