Master P Miller and former NBA All-Star Baron Davis wants to buy Rebbok and it will cost a lot of money

German company Adidas has recently been in talks with buyers over the sale of its household name brand, Reebok.

In recent times, Reebok has struggled to keep up with the trend and taste of the younger generations. There is hope for rebound for the brand as new buyers show interest, including hip hop business mogul, Percy “Master P” Miller and former NBA All-Star Baron Davis, on an asking price of $2.4 billion. Having business minds like Miller and Davis buy the brand will revive it by intersecting culture, music and sports, and placing it where it truly belongs with other top sportswear brands.

“As we focus on turning Reebok into a lifestyle brand not just a basketball brand, our most important initiative will be to put money back into the community that built this company,” Miller said. Davis also said that he wants the people he knows, “athletes, influencers, designers, celebs” to “sit at the table” with him.

Both Miller and Davis have big plans for the brand. The goal is to not only rejuvenate the undervalued brand but to find a way to bring smaller companies on board for distribution purposes, as well as create a newer and more trendy identity for Reebok.

“I think Reebok is being undervalued. I left Nike as a 22-year-old kid representing myself and made the jump to Reebok, which took a chance on me as a creative and as an athlete,” Davis said.

Before its move to sell the Reebok brand, Adidas planned to sign rappers to shoe deals just like it did with athletes. In 2003, Sean “Jay-Z” Carter was signed as a brand ambassador with Reebok, launching the S. Carter shoes, thereby investing in hip hop. As a result, Reebok’s footwear sales increased by 17% in the following year.

Rappers like Kanye West, Pharrell, and Drake who signed brand deals with sportswear companies like Nike and Adidas also contributed to boosting sales for these brands. Such that they become influencers and by extension dictate business and trends, especially in Black communities.

In 2005, Adidas bought Reebok in a strategic move to beat US rival Nike. More than a decade later, Adidas reportedly announces its plan to sell Reebok. According to the parent company, the Reebok brand was more impacted by the effects of the coronavirus pandemic compared to the Adidas brand.

Several companies like Timberland, VF Corp, and China’s Ant have also shown interest in buying the sportswear company. According to Bloomberg, the company will still have to decide in the coming months whether or not it will proceed with the sale as the deal is still in its preliminary stage. Adidas, reportedly, hoped to boost its gross sales from 2 billion euros to about $2.4 billion before the epidemic.

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