Following its acquisition of Reebok from Adidas in 2022, Authentic tapped Farfetch subsidiary New Guards Group (NGG) as its operating partner for the Reebok brand in Europe. The deal includes managing the brand’s wholesale operations, a replatform of all of Reebok’s ecommerce sites in the region that is now live, and ongoing efforts to “drive the evolution of the brand by expanding its luxury collaboration offerings.”
NGG has formed a new division — NGG++ — to handle the Reebok business and accelerate opportunities for NGG brands’ sportswear and sneaker categories. Cristiano Fagnani, previously Chief Marketing Officer of NGG, has been appointed to the role of CEO of NGG++. He brings over 20 years of industry experience to the role, including time at Nike, where he led Energy Marketing, Brand Experience and Product Collaborations.
“We are delighted to be working with Authentic on such a beloved heritage brand,” said José Neves, Farfetch Founder, Chairman and CEO in a statement. “Reebok has great potential to expand into the luxury space, reigniting its loyal customer base and capturing the imagination of a new luxury global audience. Under the astute and energetic guidance of Cristiano and the NGG++ team, we believe this partnership will unlock huge value for the brand and for Farfetch.”
“NGG++ is now operating Reebok across Europe, overseeing marketing and ecommerce operations, as well as driving wholesale distribution,” said Fagnani in a statement. “In addition, NGG++ has the vision to redefine the space between sport and culture to empower movement. I am excited by the opportunity to leverage the brand through luxury collaborations and new high-end products designed in Milan and made in Italy. All of this will help us accelerate wider opportunities for NGG in the sneaker and sportswear markets.”
Authentic also is working to improve the fortunes of other retail brands it has acquired over the past several years. Other companies that joined or are in the process of joining its growing portfolio include:
- Luxury apparel and accessories brand Vince, which was acquired for $76.5 million in April 2023;
- Boardriders’ iconic brands, including Quiksilver, Billabong and Roxy, which were acquired for an undisclosed sum in April 2023; and
- British fashion chain Ted Baker, which was acquired for $254 million in August 2022.