Rumors of Reebok’s potential acquisition by China’s Anta Sports are gaining momentum, with multiple sources suggesting that a deal may already have been finalized. While neither Anta nor Reebok’s current owner, Authentic Brands Group (ABG), has confirmed the transaction, the industry is watching what could be a pivotal move for both companies.
Status of the deal: Speculation, not confirmation
As of early August, Anta has declined to comment on media reports suggesting it is acquiring Reebok from ABG. In statements issued Aug. 5 and 6, the company reiterated that it does not respond to market speculation and advised observers to await an official announcement. Nonetheless, several Chinese-language and international media outlets report that the acquisition is likely to be complete or nearing finalization.
Why Reebok – And why now?
Reebok has struggled to regain market traction in China under ABG’s licensing model. The brand’s local operations have been managed by Hong Kong–based Tristate Holdings since early 2022, but performance has remained modest. Across major e-commerce platforms, Reebok generated approximately RMB 160 million ($22.3m) in annual sales – a relatively weak result for a globally recognised brand.
ABG’s asset-light model, reliant on licensing and local operators, has not delivered the expected brand revival. This creates an opening for Anta, which has a strong track record of revitalizing underperforming brands in the Chinese market.
Anta’s blueprint: Fila, Descente, Amer Sports, Jack Wolfskin
Anta has repeatedly demonstrated an ability to turn around struggling international labels:
- Fila (China): Acquired in 2009 when it operated only 50 stores in China and was loss-making. Anta repositioned Fila as a premium fashion-sport brand, and by 2019, Fila’s operating profit exceeded that of Anta’s core business. At the end of 2024 Fila had 1,264 stores.
- Descente: Anta formed a joint venture with Descente Ltd. in 2016, transforming the brand into a major player in China’s premium ski and outerwear segment. In FY 2024, retail sales for Descente generated 50 to 55 percent year-over-year growth in the final period and a 40 to 45 percent increase for the full year.
- Amer Sports: Anta led the 2019 acquisition of Amer Sports, whose brands include Arc’teryx, Salomon and Wilson. Since the takeover, Amer has returned to profitability, with strong growth in Greater China and globally.
→ Read on: Amer expects Technical Apparel to generate an operating margin of about 21 percent and FY sales growth of 20-22 percent in 2025. - Jack Wolfskin: This recent acquisition reflects Anta’s intention to invest in established Western brands to strengthen their global positioning. Nevertheless it’s too early to judge this particular transaction.
The Reebok acquisition, if confirmed, would likely follow this model: a full operational takeover, direct control of retail and distribution, and a repositioning to meet Chinese consumer preferences.
Anta and Reebok – Strategic implications
Reebok has historically faced challenges with brand identity and channel fragmentation in China. Anta’s centralized and vertically integrated model could offer a coherent route to growth, particularly in the lifestyle and active segments, where Reebok once held a strong position.
Moreover, a successful Reebok turnaround would add to Anta’s growing portfolio of global brands and extend its influence beyond performance sportswear into heritage athletic fashion – a segment that continues to attract younger consumers.
Anta as ‘global brand manager’
If the acquisition is finalized, it could mark a significant shift in Reebok’s global positioning and consolidate Anta as a global brand manager, not just a Chinese market leader. For now, however, the transaction remains unconfirmed, and the company has provided no details on timing, terms or integration plans.
