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Article: Polo Ralph Lauren to Buy Footwear Line
- Article from:
- AP Online
- Article date:
- May 23, 2005
CopyrightThis material is published under license from the Associated Press. All inquiries regarding rights should be directed to the Associated Press. (Hide copyright information)
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AP Online
05-23-2005
Dateline: CANTON, Mass.
Polo Ralph Lauren Corp. will buy Reebok International Ltd.'s rights to the Ralph Lauren line of footwear for $110 million in cash, ending a 9-year-old licensing agreement under which Reebok made and sold shoes under the Ralph Lauren label.
Reebok chairman and chief executive Paul Fireman said Monday the agreement will allow the Canton-based maker of athletic shoes and other apparel "to focus on the continued growth and development of our core business."
New York-based Polo Ralph Lauren said the agreement is in line with its goals of taking more control of its own brands and developing a global luxury-accessories business.
Reebok bought the Ralph ...