CrossFit And Reebok Settle Licensing Dispute
Agreement Paves Way for Continued Partnership
Aug 28, 2018, 12:08 ET
SCOTTS VALLEY, Calif. and BOSTON, Aug. 28, 2018 /PRNewswire/ -- CrossFit, Inc. and Reebok International Ltd. are pleased to announce today settlement of all litigation related to their licensing agreement and that they look forward to continuing their work together as partners mutually dedicated to improving individual health and fitness globally.
While the details of the settlement remain confidential, the settlement includes a payment to CrossFit for disputed royalties.
"Every partnership confronts challenges from time to time. Great partnerships learn from them, overcome them, and become stronger in the resolution of them," said Jeff Cain, Chief Executive Officer at CrossFit. "Our shared resolution is a victory for CrossFit trainers, affiliates, and athletes."
CrossFit and Reebok entered into a ten-year licensing and sponsorship agreement in 2010 which makes Reebok the title sponsor of the CrossFit Games and gives Reebok a license to sell fitness apparel and footwear products bearing the CrossFit trademark.
"We look forward to our continued collaboration with CrossFit," said Reebok President Matt O'Toole. "Our brands are stronger together in the resolution of this dispute, which means great things on the horizon for the CrossFit community."
CrossFit, Inc., headquartered in Scotts Valley, CA, USA, is the world's leader in fitness training that helps individuals improve their physical well-being and cardiovascular fitness in an encouraging environment. More than 15,000 gyms- known as boxes- across the world are licensed CrossFit affiliates. For more information, visit CrossFit at www.crossfit.com.
Reebok International Ltd., headquartered in Boston, MA, USA, is a leading worldwide designer, marketer and distributor of fitness and lifestyle footwear, apparel and equipment. A subsidiary of adidas, Reebok is an American-inspired global brand and a pioneer in the sporting goods industry with a rich and storied fitness heritage. Reebok develops products, technologies and programming which enable movement and is committed to accompanying people on their journey to fulfill their potential. Reebok connects with the fitness consumer wherever they are and however they choose to stay fit – whether it's functional training, running, combat training, walking, dance, yoga or aerobics. Reebok Classics leverages the brand's fitness heritage and represents the roots of the brand in the sports lifestyle market. Reebok is the exclusive outfitter of CrossFit and the CrossFit Games.
SOURCE CrossFit, Inc.
