Core Viewpoint - Anta Group is reportedly set to acquire the Reebok brand from Authentic Brands Group (ABG), with the transaction already completed [2] Group 1: Reebok's Historical Context - Reebok was founded in 1895 in Bolton, England, originally known for its first spiked running shoes [2] - The brand transitioned to the U.S. market in 1979 and experienced significant growth, even surpassing Nike in market share during its peak [2] - Reebok partnered with the NFL in 2000 and sponsored numerous athletes for the 2004 Athens Olympics [3] Group 2: Recent Ownership Changes - Adidas acquired Reebok in 2005 for $3.8 billion to enhance competition with Nike, but Reebok's market share began to decline [3] - In 2021, Adidas sold Reebok to ABG for €2.1 billion, with ABG delegating regional operations to partners, including a focus on the Chinese market [3][4] Group 3: Current Performance and Future Prospects - Reebok's global market share is projected to remain below 1.5% by 2024, indicating ongoing struggles in the second-tier brand category [4] - Anta Group, founded in 1991, has successfully expanded its brand portfolio through acquisitions, including FILA, which has become a significant revenue contributor [5][6] - Anta's revenue for 2024 is expected to reach ¥70.826 billion, a 13.58% increase year-on-year, with a net profit growth of 52.36% to ¥15.596 billion [6]

Core Viewpoint - Anta Group, known as the "King of Mergers and Acquisitions," has expanded its brand matrix by acquiring the German outdoor brand Jack Wolfskin for $290 million, marking a significant step in its strategy to enhance its presence in the outdoor sports market [1][3][5]. Group 1: Acquisition Details - Anta Group completed the acquisition of Jack Wolfskin on May 31, 2025, making it an indirect wholly-owned subsidiary [3]. - The acquisition was part of a broader strategy to address the growing demand for differentiated outdoor sports products among consumers [3][5]. - Jack Wolfskin, established in 1981, focuses on outdoor activities and has a strong market presence in Europe and China, with 495 stores globally [5][6]. Group 2: Market Position and Strategy - Anta's acquisition of Jack Wolfskin is seen as a strategic move to strengthen its competitive position in the outdoor segment and to further its globalization strategy [5][6]. - The company has a history of successful acquisitions, including brands like FILA and DESCENTE, which have significantly contributed to its revenue growth [6][8]. - Anta's revenue for 2024 reached 70.826 billion yuan, a 13.6% increase, maintaining its leading position in the Chinese sportswear market [11][12]. Group 3: Future Outlook - The integration of Jack Wolfskin presents both opportunities and challenges for Anta, as it must navigate competition among its various brands while leveraging its operational expertise [10][12]. - The market will soon assess whether Jack Wolfskin can become a growth driver akin to Anta's other successful brands or if it will remain a performance drag [12].