NEW YORK — As the $3.8 billion, all-cash acquisition of Reebok International by Adidas-Salomon waits for shareholder approval, the companies' top executives held a road show Monday to tout the deal.
During a meeting with reporters at the W Hotel here, Herbert Hainer, chairman and chief executive officer of Adidas-Salomon, and Paul Fireman, chairman and ceo of Reebok, reiterated what was previously said in regard to synergies between the companies. But they also offered a glimpse of how the acquisition repositions the brands for growth.
The future, Hainer and Fireman said, will focus on marketing and licensing to push the brands deeper into the market.
Sourcing also will play a more significant role. "Speed to market is critical," Hainer said, adding that, in the branded apparel segment, for example, Adidas-Salomon likely will help Reebok with its global sourcing needs. But it's a two-way street. Fireman said when it comes to bringing goods to market, "nobody is faster than Reebok."
How fast? Well, if there's a college team that wins a key game on a Saturday afternoon, Reebok would be able to get Adidas' licensed goods into the retailer "by 6 a.m. the next day," Fireman said.
"It will allow us to service the market immediately," Hainer said.
With marketing and advertising, Fireman and Hainer said, the industry can expect to see more exposure for Adidas and Reebok via brand placement in video games. Fireman said because of the repetitious quality, placement in video games offers "30 to 40 times the brand exposure" television does. Regarding advertising dollars, Hainer said the acquisition of Reebok will allow the companies to get more bang for their buck.
Hainer added that a "two-brand strategy is more effective," given the demands of consumers in the activewear market.
Fireman said he's committed to working with Hainer and his executive team during the transition, which Fireman and Hainer said would take some time to complete. "And we will hopefully find ways to grow," Fireman said.
Does that mean additional acquisitions for Adidas-Salomon? "We're still working on this one," Hainer said, laughing, but he quickly added that it's his job to look for opportunities. "With acquisitions, you need to have discipline."
@tradesy is turning the concept of a showroom upside down with its new space in Santa Monica. Here, the company plans to hold events, art exhibits and a showcase rare fashion pieces like this Louis Vuitton boxing set. Get all the details on Tradesy’s first showroom on WWD.com. #wwdnews
Spotted last night at the @erdem x @hm launch event: Kate Bosworth, Rashida Jones, Kirsten Dunst and Selma Blair. The party, which took place in LA, also marked the opening of their pop-up shop. “I was interested in creating a collection that wasn’t in any way disposable. It was about pieces you’d create and keep forever, things that have a permanence to it,” designer Erdem Moralioglu said. #wwdeye (📷: Katie Jones)
Renee Zellweger in yellow in 2001 and again in 2017. Chosen as one of the 12 @pantone Leading Spring Colors (and dubbed “Meadowlark”), it only makes sense that the bright hue stands the test of time and is making a resurgence this season, seen already on stars like @blakelively and @gigihadid. (📷: Donato Sardello & @rexfeatures) #wwdfashion #tbt
Dior’s 70th anniversary celebration continues with a new exhibition at the Royal Ontario Museum in Toronto. “Christian Dior,” which is scheduled to run through March 18, takes a look at the founders tenure from 1947 to 1057 and feature 40 designs. Pictured here is an evening gown from the Ailée, fall 1948-49 haute couture collection. #wwdfashion (📷: Brian Boyle)
As one of the most recognizable models in the world, Christy Turlington Burns has an insider’s view of the fashion industry and the allegations of sexual harassment swirling around it. “I can say that harassment and mistreatment have always been widely known and tolerated in the industry. The industry is surrounded by predators who thrive on the constant rejection and loneliness so many of us have experiences at some point in our careers,” Turlington told WWD, along with her suggestions for how the modeling world should protect younger women and men. Read more on WWD.com. Link in bio. (📷: Tony Palmieri) #wwdnews
@asics America has tapped a new brand ambassador: famed DJ/record producer @steveaoki. This initiative is intended to set the tone for the new brand identity and philosophy and will include partnerships with influencers and in-store and off-line activations that will continue into next year. This is Asics’ most significant marketing effort in two decades, and is expected to attract younger consumers to the brand. #wwdfashion
24-year-old Jean Prounis is redefining the rules of jewelry. Formerly a studio assistant to Jemima Kirke and a design apprentice at Ghuran, she focuses on handcrafted subtleties and ancient goldsmithing techniques. “There was a really sterile feel in the environment and I wanted to have jewelry with character that shapes how you wear it everyday,” Prounis said. Each piece is hand made in New York, either by Prounis or three other jewelers in the district. #wwdfashion
“These collections continue to build on that vision, empowering differently abled adults to express themselves through fashion,” said @tommyhilfiger of his line of adaptive apparel, which launches today. The line consists of 37 men’s and 34 women’s styles based upon the pieces from the spring Tommy Hilfiger sportswear collection. #wwdnews