Reebok was born in an era when athleticism and craftsmanship meant everything. With a journey spanning from quaint British towns to the global stage, the brand’s timeline is full of twist and turns. So, as we celebrate its 65th anniversary, Captain Creps is tracing the steps of this footwear giant, starting from its humble British origins to its tango with adidas, all the way towards the future.
Nestled in Bolton, England, in 1895, the seed of Reebok sprouted as J.W. Foster and Sons. Back in the day, this was a small family outfit, dedicated to crafting a unique brand of running shoes. Its speciality? Spiked soles, offering unparalleled grip for eager athletes. The Olympic Games of 1924 saw British athletes championing these very spikes, thrusting the brand into a spotlight it would seldom leave.
1958 heralded a renaissance of sorts. Two descendants of the original founder branched out, christening their venture Reebok. Inspired by an African antelope, the name embodied agility, speed, and elegance – ideals that the brand held dear. As decades flowed, so did Reebok’s influence, especially across the Atlantic.
In 2005, adidas, in a strategic masterstroke, welcomed Reebok into its fold for an impressive $3.8 billion. Through this new leadership, the British brand changed in more ways that one, from its marketing persona to its design philosophy.
Yet, in the world of business, change is continuously afoot. In 2021, adidas decided to part ways with Reebok, selling the company to the Authentic Brands Group (or ABG, for short). This wasn’t merely a transaction – it marked a new era that was about to change everything forever.
Ever heard of Authentic Brands Group? From fashion to lifestyle and even sports, ABG’s imprint is omnipresent. Launched in 2010, these folks know a thing or two about turning brands around. Its portfolio is eclectic, boasting names like Brooks Brothers, Forever 21, and even Elvis Presley. What sets it apart isn’t just its skill in acquiring brands, but also its knack for reinvigorating them.
What’s its secret sauce, you ask? Well, it’s an amalgamation of strategic brand development, clever licensing, and full-throttle marketing. ABG isn’t just a hoarder of names; it’s more of a brand whisperer. So when they set its sights on Reebok, it was a moment worth noting.
Hold your horses; there’s another twist to this tale. Enter, the Big Diesel, Shaquille O’Neal. That’s right, the basketball legend’s got skin in the game as well. According to reports, Shaq’s bought a piece of the ABG pie, meaning he has a vested interest in Reebok. Now, how much does he own? The exact numbers are hush-hush, but he’s no fringe investor; that much is evident.
This is more than nostalgia from the days when Shaq had his own iconic Reebok sneakers. It’s a strategic move by a man who knows business almost as well as he knows basketball. And let’s not underestimate the gravitas that Shaq brings to the table. His influence is more than superficial. The man knows the world of sportswear like the back of his giant hand, and his insights could very well shape Reebok’s future trajectory. In fact, in October 2023, he was crowned the new President of Basketball for Reebok, which is a full circle moment for the Big Shamrock.
And so, as the sun sets on our exploration of Reebok’s ownership odyssey, a few things are crystal clear. The brand is experiencing a sort of renaissance under the ABG. Both financially and strategically, it seems that we’re witnessing the first chapters of a compelling comeback story.
However, it’s important to exercise caution in our optimism. The future is rife with uncertainties, and ABG’s management skills are yet to be fully tested in the context of a sportswear giant like Reebok. It’s a thrilling, unpredictable journey ahead. One thing is certain: all eyes will be on Reebok as it attempts to vault over hurdles and regain its past glory.
Who owns Reebok now?
Authentic Brands Group (ABG) is the current owner of Reebok.
Does adidas still own any part of Reebok?
No, adidas sold Reebok to ABG and no longer holds a stake in the company.
What is ABG’s strategy for Reebok?
ABG aims for a blend of heritage and innovation, targeting both a loyal and a younger consumer base.
How is the brand performing financially?
While exact figures are scarce, initial signs point towards a positive financial performance under new ownership.
Does Shaquille O’Neal own part of Reebok?
Yes, Shaquille O’Neal owns a minority stake in Reebok.
What’s next for the brand?
Expect a mix of retail evolution, strategic partnerships, and a strong focus on social responsibility.
