Authentic Brands Group plans to let "Reebok be Reebok" after acquisition
Authentic Brands Group plans to let "Reebok be Reebok" after acquiring the sneaker brand from Adidas on March 1, ABG founder and CEO Jamie Salter told Axios' Richard Collings during Thursday's Axios Pro kickoff event.
What he's saying: "We're going to focus very big on the classic entertainment fashion side and the other 50% on the athletic side," Salter said.
- He added that he expects the company to grow to $6 billion in revenue from $4 billion next year, and to $10 billion within five years.
Salter claims ABG is the country's largest licensing business behind Disney, owning brands that range from JCPenney to Elvis Presley to Sports Illustrated.
- Salter says consumers continue to spend, despite inflation concerns and limited product supplies.
- ABG was "on the one yard line, ready to pull the trigger" on its IPO, before private equity arrived with an offer the company and its shareholders couldn't refuse.
- The company still plans to go public, but now that is more likely to come next year.
- Looking ahead, ABG is looking at opportunities in the kids sector.