Reebok International sees revenue and profits rising in 2024

The latest set of accounts filed by Reebok International Limited and its subsidiary RILUK IPCO Limited show both revenue and profits revenue rising in 2024.

RILUK IPCO is a company registered in Britain but it operates the activities of the Reebok brand from a branch in New York, while Rebook International serves as the holding company for it within the group of businesses owned by Authentic Brands Group.

And there’s no denying that the headline numbers look good for a brand that was a perennial underperformer for years as group profits after tax rose from $163.55 million to $179.93 million. The company said this was driven by expanding revenues as the global Reebok business grew, with improvements in the performance of licensees and expansion through new partners.

Revenue — which was wholly comprised of global royalty income — rose to $302.489 million from $276.436 million in 2023. Operating profit rose to $192.37 million from $176.83 million and the company paid less income tax this time at $12.43 million compared to $13.27 million in the previous year.

Authentic acquired Reebok from Adidas in March 2022 and following the initial transition period to the trading arrangements of Authentic, with its external retail operating partners, profitability was further boosted by reduced marketing and other business overheads together with an increased number of licenses with strong minimum contractual amounts. This is expected to continue to enhance profits and provide the group with significant cash inflows. The company continues to look for new product categories to expand into.

The results didn’t contain a huge amount of detail and there was no hint of how the current year has gone. However, despite the tough conditions out there, it’s to be hoped that this year will also prove to be a strong one. The business has been signing new agreements in 2025 with June seeing the announcement of a deal with Slam Jam, a European premium lifestyle company, to expand Reebok’s presence across the US, Canada, and Central and Eastern Europe.

And in February, it had said Galaxy Universal was taking over Reebok’s footwear operation, retail stores, and e-commerce, as well as leading the sportswear maker’s global product creation, design, and sourcing. 

Meanwhile, GB Brands Europe Limited — a new joint venture between Galaxy and Batra Group — was named to oversee Reebok’s operations across Europe and the UK.