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Reebok’s owner replaces sportswear brand’s Chinese distributor after four years 2026-03-09
The owner of Reebok has announced that it replaced the core operating partner for the sportswear brand in China, almost four years after appointing Tristate Holdings.
Xinrui Sports Shanghai will be responsible for production, import, distribution, and sales in the Chinese mainland, Hong Kong, and Macao, covering footwear and apparel for both adults and children, ABG said in a statement on March 6.
Founded in 2025, Xinrui Sports is controlled by Shanghai Xinrun Investment Management, which owns an 80 percent stake in the company. Its business scope covers technical services and clothing retail.
Adidas sold Reebok to ABG in 2022 at a discounted price of USD2.5 billion. Reebok’s annual revenue totaled EUR1.4 billion (USD1.6 billion) in fiscal 2020.
Reebok has struggled in the Chinese market in recent years. In China’s four first-tier cities, the brand only has a store in Shanghai and an outlet in Guangzhou. Online, it operates its flagship stores on Taobao and JD.Com, but shoes are on sale for below CNY500 (USD72).
Reebok has not yet released its financial statement for 2025, but Hong Kong-based Tristate reported a net loss of HKD62 million (USD7.9 billion) for Reebok in 2023 and 2024.
Reebok’s operational dilemma in China is the result of its own strategic errors and changes in the market environment, industry insiders told Yicai. From the perspective of the brand, ambiguous positioning is the main issue, as product design lacks innovation and suffers from serious homogenization, making it difficult to meet customers’ increasingly differentiated needs, the insiders explained.
Source: Yicai Global
