WHP Global may have lost out on its bid to buy Reebok, but it was able to snag another high-profile sports brand: Lotto Sport Italia.
, Western Europe, the Middle East and Africa. Its headquarters and archives in Italy will also be retained, according to Yehuda Shmidman, CEO of WHP Global.He shrugged off the fact that Authentic Brands Group was able to buy Reebok from Adidas for 2.1 billion euros and said WHP is focusing instead on its newest addition and Lotto’s opportunity for growth, particularly in the U.S.
But the real opportunity for WHP, Shmidman said, is in the U.S., where the product is available on a very limited basis. “That’s the huge upside for us,” he said. “You can find it here, but the vast majority of the business is in Europe, Asia and Latin America. We’ll be investing in it big time in the future.”
Shmidman said he expects to very quickly begin signing licensing deals in the U.S. market for performance and lifestyle apparel under the Lotto name. “We’re not going to wait,” he said. He sees the “general athletic apparel” sector as “the biggest financial opportunity” for the brand as this category has continued to gain in importance since the pandemic.
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