Russian Reebok bought out by Turkish holding | World Fashion Channel

Russian Reebok bought out by Turkish holding

Trends
Read min

20 May 2022

The assets of the Russian Reebok were transferred to the Turkish company FLO Retailing. As a result of the transaction, the new owner received more than 117 outlets previously owned by the American company. It is reported that the deal has already been closed and the stores will soon resume their work, however, they will be called differently. At the same time, the new owner will retain the Reebok brand. They write that the amount of the sale can be from 500 million to 1.5 billion rubles.

The Turkish holding FLO planned to enter the Russian market as early as 2021, developing such brands as Kinetix, Polaris and Nine West. Now Reebok will be added to them. It is known that the Reebok brand in Russia is controlled through Adidas LLC, whose net profit in 2021 amounted to almost 4 billion rubles. Due to anti-Russian sanctions, the brand has suspended its work in the country for an indefinite period.
A month later, the company's management found a way out of this situation and sold the business.
FLO Retailing was founded in 1960 and today manages major brands such as U.S. Polo Assn, Flo, Sport in Street, Reno, Kinetix, Polaris, Nine West, Lumberjack.

Read also

All articles
Trends
image
02 Jul 2022
Analysts have calculated how much the Metaverse will cost in 2030
Trends
image
03 Jul 2022
Sketches of Karl Lagerfeld will go under the hammer at Sotheby's
Trends
image
30 Jun 2022
12 of the most hyped IKEA products we're saying goodbye to