The Adidas Group announced that in mutual agreement with Vulcabr S.A. it will take control of the distribution and licence rights for the Reebok brand in Brazil and Argentina, when the current joint venture agreement concludes at the end of 2015.
By concluding the distribution and licence contract as well as the related joint venture agreement with Vulcabr S.A., the Adidas Group will hold the exclusive distribution rights for Reebok products in Brazil and Argentina as of Jan. 1, 2016.
The Reebok and Vulcabrpartnership dates back to 1992, when Vulcabr became the official distributor and licensee of the Reebok brand in Brazil. In 2008, the partnership was enhanced with the creation of a joint venture, governed by a Board of Directors comprised of Reebok and Vulcabr executives, whereby Vulcabr S.A. would distribute Reebok footwear, apparel and accessories in Brazil and Argentina through to the end of 2015.
"We have enjoyed a long and successful business partnership with Vulcabr, but we are committed to ensuring that both the Reebok and Adidas brands are operating under the Adidas Group in all markets around the world," said Roland Auschel, executive board member of Adidas AG, responsible for global sales. "We will work closely with Vulcabr to ensure we deliver strong results in 2015 and to ensure a smooth transition entering 2016."
