adidas has entered into a definitive agreement to sell Reebok to Authentic Brands Group (“ABG”) for a total consideration of up to EUR 2.1 billion, with the majority to be paid in cash at closing of the transaction and the remainder comprised of deferred and contingent consideration.
Read MoreYEEZY’s Kanye West at the Gap, Fear of God’s Jerry Lorenzo at adidas, Aimé Leon Dore’s Teddy Santis at New Balance, Pyer Moss’ Kerby-Jean Raymond at Reebok, and now Noah’s Brendon Babenzien, at J. Crew. Not to forget the moves of Virgil Abloh at Louis Vuitton and Kim Jones at Dior. Taken together, these shifts symbolize more than the latest round of designer musical chairs. The same designers that giant brands would not have considered just five years ago are now being completely relied upon to breathe new life into multi-billion dollar brands.
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