BRIEF: Authentic Brands denies reports of Reebok sale to China’s Anta
An executive from Authentic Brands Group denied the company was in talks to sell its Reebok brand to Chinese sportswear company Anta Sports Products Ltd. (2020.HK), according to a media report on Wednesday.
“Authentic is not selling Reebok to Anta. This claim is completely false,” wrote Authentic Brands executive vice president Steve Robaire in an internal memo, according to Footwear News. “Authentic has no plans to divest Reebok — now or ever,” Robaire added, saying Authentic Brands remains fully committed to Reebok.
The denial came a day after reports emerged saying Authentic was close to a deal to sell Reebok to Anta. Reebok was founded in 1958, and Authentic purchased the brand from former owner Adidas for $2.5 billion in 2021. Anta is China’s largest sportswear seller, and owns a number of foreign brands, including Wilson and Arc’teryx, following its 2019 purchase of Amer Sports (AS.US).
Anta’s Hong Kong-listed stock fell 3.3% on Wednesday after the initial reports came out.
By Doug Young
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