Earlier today, it was announced that Reebok International Ltd. and CrossFit, Inc. have reached an agreement over a licensing dispute that was publicized in mid-June 2018. In the press release published by PR Newswire and provided by CrossFit, Inc., they write,
“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.”
As of right now, there have been no reported specifics on the agreement, as everything has remained confidential, but in the PR Newswire report they write, “the settlement includes a payment to CrossFit for disputed royalties.”
https://www.instagram.com/p/BlO1okOHQRc/
For context on the situation, in mid-June it was initially reported that CrossFit, Inc. had filed a formal licensing dispute against Reebok International Ltd. in regards to the licensing deal that they originally entered into in 2010. The original complaint made by CrossFit, Inc. stated that Reebok had been underpaying them on previously agreed upon royalties and failed to validate a CrossFit-branded marketing budget.
Since the original complaint, it appears the companies have worked together to sort out the dispute and will be working together on marketing and apparel projects moving forward. Jeff Cain, Chief Executive Officer at CrossFit, Inc. stated in the press release, “Every partnership confronts challenges from time to time. Great partnerships learn from them, overcome them, and become stronger in the resolution of them. Our shared resolution is a victory for CrossFit trainers, affiliates, and athletes.”
Reebok’s President Matt O’Toole also made a comment in the press release, saying, “We look forward to our continued collaboration with CrossFit. Our brands are stronger together in the resolution of this dispute, which means great things on the horizon for the CrossFit community.”
In terms of what this could mean for CrossFit, Inc. and Reebok International Ltd. working together after their 10-year contract ends in 2020 — there have still been no details reported.
Feature image from @crossfitgames Instagram page.
