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Adidas group buys Reebok Distribution rights for Russia
The adidas Group has bought the distribution rights for the Reebok brand in CIS (Russia, Ukraine, Kazakhstan, Belarus, Uzbekistan, Armenia, Azerbaijan) from ZAO RBK-Retail, Reebok’s Russian distributor.
Effective January 1, 2007 adidas Ltd., Moscow will become the exclusive distributor of Reebok products in CIS and ZAO RBK-Retail will become a key account for the adidas Group.
Financial details of the transaction are being kept confidential. Buying out Reebok distributors and joint ventures around the globe is a key component of the integration strategy and will provide the Group with revenue synergies totaling at least 200 million by 2009. Russia and China have been identified as the countries with the biggest opportunities, providing the vast majority of the revenue growth opportunities expected from the buyout of distributors and joint ventures.
