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ICICI Direct Report
Aditya Birla Fashion and Retail Ltd. has acquired the licencing rights to sell and distribute Reebok products in India from Authentic Brand Group, U.S.
It has also entered into a purchase agreement to buy inventory and other current assets and liabilities for a consideration of Rs 75-100 crore.
Reebok has ~180 stores operational in India (mainly franchise led) while revenue as on FY20 was at Rs 429 crore (with early double digit margins).
Aditya Birla Fashion would also leverage its robust distribution network to distribute the products of the brand through Pantaloons and other multi brand outlets.
Historically, under the Adidas group, Reebok's revenue from Indian operations has been subdued with revenue compound annual growth rate of ~5% in FY14-20.
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