Farfetch has commercially launched its European partnership with Reebok. This follows the deal announced in February 2022 (read SGB’s coverage here) with new Reebok owner Authentic Brands Group (Authentic). Following its acquisition of Reebok in 2022, Authentic partnered with Farfetch to operate its business in Europe, re-platform its European e-commerce sites and drive the evolution of the brand by expanding its luxury collaboration offerings globally.
New Guards Group (NGG), a wholly-owned Farfetch company, is managing the partnership and has formed a new division, NGG++, to operate the Reebok brand and focus on accelerating opportunities for NGG brands’ sportswear and sneaker categories.
Cristiano Fagnani, previously chief marketing officer of NGG, was hired asCEO of NGG++. He brings over 20 years of industry experience to the role, following a career at Nike, where he led Energy Marketing, Brand Experience and Product Collaborations.
José Neves, Farfetch founder, chairman and CEO said: “We are delighted to be working with Authentic on such a beloved heritage brand. Reebok has great potential to expand into the luxury space, reigniting its loyal customer base and capturing the imagination of a new luxury global audience. Under the astute and energetic guidance of Cristiano and the NGG++ team, we believe this partnership will unlock huge value for the brand and for Farfetch. Launching the partnership with Reebok is an important execution milestone in Farfetch’s plans for 2023. We are delighted that the NGG++ and Farfetch Platform Solutions teams have ensured Reebok’s wholesale and e-commerce operations are up and running on time and on budget. We look forward to delivering on further milestones for Reebok throughout our partnership.”
Cristiano Fagnani, CEO of NGG++, said: “NGG++ is now operating Reebok across Europe, overseeing marketing and e-commerce operations, as well as driving wholesale distribution. In addition, NGG++ has the vision to redefine the space between sport and culture to empower movement. I am excited by the opportunity to leverage the brand through luxury collaborations and new high-end products designed in Milan and made in Italy. All of this will help us accelerate wider opportunities for NGG in the sneaker and sportswear markets.”
Davide De Giglio, CEO of New Guards Group, said: “Helping streetwear brands evolve into new luxury and lifestyle houses is part of our core skill set. In addition to generating significant revenues, this partnership will help us further support our existing brands and nurture new talent. We believe NGG++ will deliver growth for Reebok and for our other NGG brands – all celebrating the combination and collaboration of sports and culture. Under Cristiano, NGG++ will create something unexpected, inspirational and profitable, while also promoting diversity, inclusion and sustainability.”
Todd Krinsky, CEO of Reebok, said: “Since announcing our partnership last year, I’ve been incredibly impressed with the energy, passion and opportunities the NGG and Farfetch teams have already brought to the table. Our concept sneakers with Botter x HP that debuted at Paris Fashion Week earlier this year, were a great indicator of all that’s to come and we can’t wait to introduce more game-changing collaborations and innovations that will elevate the brand’s legacy and further Reebok’s global appeal.”
Photos courtesy Reebok x Botter x HP
