Central Retail Corporation (CRC) announced on 24th March its CRC Sports division has inked a partnership with Authentic Brands Group (ABG) for the exclusive distribution of the U.S. firm’s Reebok brand in Thailand.
Bangkok-based CRC said CRC Sports will be at the helm of all Reebok’s retail stores, e-commerce operations and wholesale distribution in Thailand, effective immediately.
The Thailand retail conglomerate said it plans to make the U.S. sportswear maker “front and centre to advance unique growth opportunities for Reebok”, in a bid to make it one of “top five sports brands in Thailand”.
CRC Sports’ plans include expanding the Reebok Thailand network to more than 100 locations this year, renovating five concept stores and enlarging Reebok’s online presence on Supersports.co.th, Reebok.co.th. It also plans to open Reebok shops via marketplaces Lazada, Shopee and Central, aimed at reaching 20 percent of total sales for its online channels in 2022.
“The heritage and potential of Reebok and its product portfolio supports our efforts to offer even more of the best sporting trends to the new generation,” said Tony Morton, president of CRC Sports Company Limited.
“To have a world-renowned sports brand like Reebok in our portfolio helps to solidify our position as the go-to destination for sports apparel, shoes and sports equipment. We are very proud that ABG and Reebok have entrusted such a prestigious brand to CRC Sports.”
ABG finalised its acquisition of Reebok from German sportswear giant Adidas for €2.1 billion (US$2.34 billion), earlier this month.
In 2020, Reebok generated a revenue of €1.4 billion (US$1.56 billion), with a gross margin of 44.8 percent and a net operating loss of €38 million (US$331 million).