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Is Authentic Brands Group stepping in for Reebok?

The company is reported to have made $1 billion offer for the adidas-owned sports brand.

Authentic Brands Group – the parent company of Forever 21 – is believed to have made a $1 billion offer for adidas-owned sports brand, Reebok.

Adidas confirmed in February that it was looking to sell Reebok, which it acquired in 2006 for almost $4 billion, reported The Industry.Fashion.

“We will work diligently in the coming months to ensure a successful future for the Reebok brand and the team behind it,” commented Kasper Rorsted, ceo of adidas, at the time.

Anta Sports and Fila – which is undergoing something of a revival thanks to the current retro trend – are also thought to be in the frame to make a bid for Reebok.

Reebok was founded in Bolton in 1958, shooting to prominence in the 1980s.

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