Have you ever wondered who owns Reebok now? The once-popular athletic brand has been through several changes in ownership over the years, leaving many people unsure of who currently holds the reins.
Originally founded in England in 1895, Reebok has had a long and varied history. From being a leading manufacturer of running shoes in the 1980s to being acquired by Adidas in 2005, the brand has undergone significant transformations. So, who owns Reebok now? Let’s take a closer look at the current state of affairs.
Reebok is currently owned by Adidas, a German sportswear company. Adidas acquired Reebok in 2005 for $3.8 billion in an effort to compete with Nike in the global sports market. While Reebok remains a subsidiary of Adidas, it operates as a separate entity, with its own designs, marketing, and distribution channels.
Who Own Reebok Now?
Reebok, a global footwear and apparel company, has been around for over a century. Founded in 1895 in Bolton, England, Reebok has gone through several transformations over the years. In 2005, Reebok was acquired by Adidas, a German sportswear company. Since then, Reebok has operated as a subsidiary of Adidas.
History of Reebok
Reebok was founded by Joseph William Foster in 1895, who started making running shoes with spikes. The company was originally called J.W. Foster and Sons, and it wasn’t until 1958 that it was renamed Reebok. In the 1980s, Reebok gained popularity with the introduction of their aerobics shoes. They also signed endorsement deals with high-profile athletes like Shaquille O’Neal and Allen Iverson.
In 2005, Adidas acquired Reebok for $3.8 billion. The acquisition was seen as a strategic move by Adidas to compete with their main rival, Nike, in the US market. Reebok continued to operate as a separate brand under the Adidas Group.
Reebok’s Products
Reebok produces a wide range of products, including athletic shoes, sportswear, and accessories. Some of their most popular shoe lines include the Classic, Nano, and Zig. Reebok also has partnerships with several high-profile athletes and celebrities, including UFC fighter Conor McGregor and rapper Cardi B.
In addition to their traditional products, Reebok has also ventured into new areas such as sustainable fashion. They recently launched the “Cotton + Corn” collection, which features shoes made from plant-based materials.
Reebok vs Adidas
While Reebok operates as a subsidiary of Adidas, there are still some key differences between the two brands. Adidas is known for their performance-focused products, while Reebok has a more casual and lifestyle-oriented approach. Reebok also has a strong focus on women’s products, with the launch of their “Be More Human” campaign in 2015.
In terms of revenue, Reebok makes up a smaller portion of the Adidas Group’s overall sales. In 2020, Reebok accounted for around 7% of Adidas’ total revenue. However, Adidas has stated that they are committed to turning around the Reebok brand and increasing its profitability.
The Future of Reebok
In 2021, Adidas announced that they plan to sell Reebok as part of a new five-year strategy. The decision to sell Reebok came after years of struggling to turn the brand around and make it profitable. Adidas CEO Kasper Rorsted stated that the company was “convinced that Reebok and its team deserve an owner who can create a clearer path to growth and success.”
It is still unclear who the new owner of Reebok will be, but there has been speculation that several companies, including VF Corp and Anta Sports, may be interested in acquiring the brand.
Conclusion
Reebok has a rich history and has gone through several transformations over the years. As a subsidiary of Adidas, Reebok has continued to produce innovative products and collaborate with high-profile athletes and celebrities. However, with the recent announcement that Adidas plans to sell Reebok, the future of the brand is uncertain. Regardless of who the new owner may be, it will be interesting to see how Reebok evolves and continues to compete in the highly competitive sportswear market.
Frequently Asked Questions
Here are some commonly asked questions about the ownership of Reebok.
Who currently owns Reebok?
As of 2021, Reebok is owned by Authentic Brands Group (ABG), a global brand development, marketing, and entertainment company. ABG acquired Reebok from Adidas in 2020 for $2.1 billion.
ABG is known for acquiring and managing major brands, including Juicy Couture, Nine West, and Sports Illustrated. Since acquiring Reebok, ABG has expressed plans to reposition the brand as a sustainability-focused company.
Who previously owned Reebok?
Adidas previously owned Reebok, having acquired the company in 2006 for $3.8 billion. At the time, the acquisition was seen as a major move for Adidas, as it gave the company a strong foothold in the North American market where Reebok was popular.
However, over the years, Reebok struggled to keep up with its competitors and Adidas’ focus shifted more towards its own brand. In 2020, Adidas decided to sell Reebok to focus on its core brand and streamline its business.
What changes can we expect under Reebok’s new ownership?
Under ABG’s ownership, Reebok is expected to focus on sustainability and innovation. The company has already announced plans to launch a plant-based running shoe and to use more sustainable materials in its products.
ABG is also likely to expand Reebok’s reach globally and create new partnerships and collaborations to increase brand awareness. However, it remains to be seen how successful these efforts will be in reviving the brand’s fortunes.
Will Reebok’s current products and designs change under the new ownership?
It’s unclear whether Reebok’s current products and designs will change significantly under ABG’s ownership. However, the focus on sustainability and innovation may lead to changes in the materials and technologies used in Reebok’s products.
Additionally, ABG may seek to create new partnerships with designers and celebrities to bring fresh ideas to the brand. But ultimately, the direction of Reebok’s product line will depend on the company’s overall strategy and market demand.
What is the future of Reebok under its new ownership?
The future of Reebok under ABG’s ownership is uncertain. While ABG has expressed confidence in the brand’s potential, it remains to be seen whether Reebok can successfully reposition itself and compete with other major sportswear brands.
However, with ABG’s expertise in brand management and its focus on sustainability, there is certainly potential for Reebok to carve out a unique niche in the market and appeal to consumers who prioritize ethical and eco-friendly products.
Does Shaquille O Neal Own Reebok?
In conclusion, Reebok, the popular sportswear brand, has undergone several changes in ownership over the years. The most recent acquisition was made by Authentic Brands Group (ABG) in 2020. ABG is a leading brand development company that owns several well-known brands in the fashion and lifestyle industry.
The acquisition by ABG is expected to bring a fresh perspective and new opportunities for the Reebok brand. With ABG’s expertise in brand development, there is a possibility of Reebok expanding its reach and product line in the near future.
Overall, Reebok’s journey of ownership changes has been a testament to the brand’s resilience and ability to adapt to changing market dynamics. With a new owner and a renewed focus, Reebok is poised to continue its legacy as a leading sportswear brand in the global market.
