by QIN Lixin

Authentic Brands Group has replaced Luen Thai Group as the operating partner for Reebok in mainland China, Hong Kong and Macau, shifting the business to Xinrui Sports (Shanghai) Co., Ltd., after several years of weak sales in the market, according to information obtained exclusively by Jiemian News.

Registry records show Xinrui Sports is controlled by Shanghai Xinrun Investment Management Co., Ltd., which holds an 80% stake.

The change follows the early termination of Reebok's franchise agreement with Luen Thai Group, which had operated the brand in Greater China since May 2022 after Authentic Brands Group acquired the sportswear label from Adidas.

Luen Thai said in a December 2025 filing the franchise agreement covering mainland China, Hong Kong, Macau and Taiwan would end on Dec. 31, 2025.

The move comes after several years of weak performance for Reebok in Greater China, where the brand recorded losses and revenue fell more than 20% year-on-year in the first half of 2025 under Luen Thai's management.

Despite falling sales, Reebok initially expanded its store network in China after 2022, but the strategy failed to lift revenue and the company began closing underperforming outlets in 2025.

The brand has largely disappeared from mainland China's retail landscape. Reebok's China website lists four remaining outlet stores, while only one Reebok & Nautica multi-brand outlet remains open at Shanghai’s Columbia Circle complex.

Authentic Brands Group China confirmed to Jiemian News that Xinrui Sports has been appointed as the new operating partner for Reebok in mainland China, Hong Kong and Macau but declined to disclose further details about the company. Authentic typically operates its brands through licensing and distribution partners rather than directly running retail operations.

Founded in the 1980s, Reebok once ranked among the most prominent global sportswear brands. Its Freestyle fitness shoe helped drive its rise in the U.S. market, while its basketball line gained visibility through athletes including Shaquille O’Neal and Allen Iverson.

Adidas acquired Reebok in 2006 for about $3.8 billion in a bid to strengthen its position against Nike in North America. The brand later lost prominence within the German group and was sold to Authentic Brands Group in 2022.

Since taking control, Authentic has sought to revive the label’s basketball business. In 2023, Shaquille O'Neal was appointed president of basketball operations and Allen Iverson vice president.

The brand has also invested in younger athletes. In 2025 it launched a signature basketball shoe with WNBA player Angel Reese, which drew strong attention and sold out on some channels shortly after release.

Globally, Reebok's business has shown signs of recovery. Financial statements from Reebok International Limited show net profit rising from $164 million in 2023 to $180 million in 2024.

Analysts say reviving basketball products could help reposition the brand in China, though the country's sneaker market is increasingly driven by running shoes as carbon-plate and max-cushion models gain popularity.

For the new operator, the challenge will be to translate Reebok's long-standing brand recognition into renewed momentum in one of the world's most competitive sportswear markets.