Iran Kenna
May 3, 2023
Farfetch is rebuilding Reebok's website platform, hoping to "drive the brand forward by expanding its partnerships with luxury brands globally."
London-based luxury e-commerce group Farfetch has officially launched a partnership with sports brand Reebok.
In the future, Farfetch's Italian multi-brand group and New Guards Group (NGG), the operator of the famous fashion brand Off-White, will take over Reebok's main business in Europe and launch the Reebok Catalyst high-end series, covering clothing, sports shoes, and other products.
On February 28, 2022, the German sporting goods giant Adidas sold Reebok to the American brand management company Authentic Brands Group (hereinafter referred to as "ABG").
After months of work, the Reebok project was completed on time and on budget. The brand is undergoing a major transformation and will grow rapidly under new owners.
Farfetch is rebuilding Reebok's website platform, hoping to "drive the brand forward by expanding its partnerships with luxury brands globally."
NGG will form a new NGG++ department, which will be responsible for the Reebok business and accelerate the development of NGG's brand sportswear and footwear categories. Cristiano Fagnani, formerly CMO of NGG, joins as CEO of NGG++ following a "very successful career at Nike, with leadership in areas such as energy marketing, brand experience, and product partnerships."
José Neves, founder and CEO of Farfetch, emphasized that this partnership is extremely important for both companies. "Reebok has great potential to expand into the luxury sector, reactivate its loyal customer base, and weave the imagination of new luxury audiences around the world. Under the disciplined and dynamic direction of Cristiano and the NGG++ team, this partnership is poised to create enormous value for the brand and Farfetch."
He also mentioned that launching the partnership "is a major milestone" in the company's plans for 2023 and that he is pleased that "the NGG++ and Farfetch Platform Solutions teams have ensured that Reebok's wholesale and e-commerce businesses are performing as intended."
Meanwhile, Fagnani added: "NGG++ is running Reebok's operations across the European market, overseeing its marketing and e-commerce activities, while driving wholesale distribution. NGG++ wants to redefine the space between sport and culture in order to grow sports. It is a great honor to cooperate with luxury brands to design and manufacture new high-end line products in Milan, which will help NGG explore more opportunities in the field of sports."
Davide De Giglio, CEO of NGG, explained "Building the streetwear brand as a new luxury and lifestyle brand is one of our development priorities. This partnership will not only generate significant revenue but will also help to strengthen the existing brand and develop new talent."
Reebok CEO Todd Krinsky said: "Our concept sneaker collaboration with Botter x HP has been unveiled at Paris Fashion Week to further enhance the international influence."
