A newly incorporated Shanghai company with no public track record in sporting goods takes over Reebok’s distribution rights in greater China as the brand records back-to-back revenue declines and its Chinese online presence goes dark.
Authentic Brands Group (ABG) has engaged Xinrui Sports (Shanghai) to take charge of its Reebok licenses and distribution in mainland China, Hong Kong and Macau, according to Jiemian News. ABG has issued a statement but posted nothing as yet to its corporate website. Jiemian says it has obtained confirmation from the company, which has declined to disclose further details.
According to the same source, which has queried China’s main enterprise-registry aggregator (Tianyancha), Xinrui Sports was founded in 2025 and is controlled by Shanghai Xinrun Investment Management, which holds a stake of 80 percent. The parent was founded in 2008 and deals in “technical services and clothing retail.”
Xinrui is replacing Tristate Holdings, whose voluntary announcement to Hong Kong Exchanges (HKEx) late last year relates an agreement with ABG (reached on Dec. 25, 2025) to terminate early its licensing contract for the distribution of Reebok-branded products in the aforementioned regions and in Taiwan as of Dec. 31, 2025. Tristate ascribes the decision to the results of a review of its licensed brands portfolio and business objectives, which Tristate had announced on Feb. 10, 2025.
(Jiemian, incidentally, writes not of Tristate as the replaced licensee but of Luen Thai Group, which appears to be a different company.)
ABG announced its acquisition of Reebok from Adidas in August 2021, engaged Tristate in February 2022 and completed its acquisition in March 2022. Tristate’s Reebok license went into effect in May 2022.
According to Tristate, Reebok had 36 stores in China at end-2024, but the brand’s present-day Chinese store count is a mystery. Its entire online domain in China, store locator included, has gone dark. Tristate’s next filing with HKEx should occur over the next few days.
Tristate’s previous filings with HKEx report falls in Reebok’s revenue for the regions under license of 19 percent for full-year 2024 and of 21 percent for first-half 2025.
ABG established a headquarters for Asia-Pacific in June 2025, situating it in Shanghai.
