Authentic Brand Group (ABG) 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, which includes 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 an operator of more than 40 global brands, 60 retail stores and 300-plus active wholesale accounts in the GCC and the MENA region. It specializes 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 brand’s global hub, for product design, development, innovation, and creative direction.
“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, 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, Al Boom Marine.
“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, 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.
Logo courtesy Reebok
