Core Viewpoint - Anta Group is reportedly in talks to acquire the Chinese operations of Reebok from Authentic Brands Group (ABG), marking another step in its international expansion strategy following previous acquisitions [1][3]. Group 1: Anta's Acquisition Strategy - The potential acquisition of Reebok would follow Anta's past acquisitions, including FILA China in 2009, Amer Sports in 2019, and Jack Wolfskin in 2025 [1]. - The deal, if confirmed, would involve brand operations, supply chain integration, and channel resource adjustments for Reebok in China [3]. Group 2: Reebok's Market History - Reebok, founded in 1895, had a peak sales figure of $1.4 billion in 1987, surpassing Nike to become the world's leading athletic shoe brand [1]. - After being acquired by Adidas for $3.8 billion in 2006, Reebok's market share declined due to poor integration strategies, leading to a shift towards the casual fitness market [2]. - Reebok's revenue in China has seen a decline, with a reported 19% decrease in 2024, following a period of limited success under local management [2]. Group 3: Market Context - Anta was previously considered a potential buyer during ABG's acquisition of Reebok in 2021, indicating ongoing interest in expanding its brand portfolio [3]. - The recent rumors of acquisition have surfaced again, suggesting that Anta is accelerating its multi-brand strategy [3].