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The Farfetch group is now responsible for operating the businesses of Reebok in Europe, taking over the reformulation of European e-commerce sites, and boosting the brand evolution through the offer expansion. In perspective is the increase in sales in the European market.
This announcement follows the disclosed agreement with Reebok owner Authentic Brands Group (ABG) in 2022 with the brand acquisition. A Farfetch company will carry out the management. The New Guards Group formed a new division, NGG++, to operationalize the Reebok license and expand the sportswear and sneakers business in New Guards Group.
The former Chief Marketing Office of NGG, Cristiano Fagnani, has been appointed as CEO of NGG++. Fagnani also had a promising career at Nike, where he headed the areas of Energy Marketing, Brand Experience, and Product Collaborations.
“Reebok has great potential to expand into the luxury space, reactivating its loyal customer base and capturing the imagination of a new global luxury audience. Under the astute and energetic guidance of Cristiano and the NGG++ team, we believe this partnership will bring great value to the brand and Farfetch. The launch of the partnership with Reebok is an important execution milestone in Farfetch’s plans for 2023,” said José Neves, Farfetch founder, chairman, and CEO, in a statement.