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Reebok’s Russian assets will be managed by its Turkish partners

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Reebok is transferring all its assets in Russia to a Turkish holding FLO Retailing. The companies have signed agreements under which FLO will be able to operate more than a hundred stores in Russia.

According to experts, the value of all Reebok assets is at least 1.5 billion rubles, but the real value of the transaction could be several times less. Media reports that one hundred stores of the chain have already been transferred to the Turkish company, and they will change their name in the near future, while retaining the well-known brand. Analysts believe that the value of the deal between the two companies could be 500 million rubles.

None of the companies participating in the agreement has yet officially confirmed the information. FLO Retailing was founded in Turkey over 60 years ago by Ahmet Ziylan. Today, the holding operates in two dozen countries. The list of businesses he manages includes shoe chains, brands for the production of clothing and other goods. Earlier, Turkish media reported that Reebok and FLO have entered into an agreement under which the Turkish company will produce clothing and footwear under the Reebok brand at its factories in 12 countries.

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