Master P & Baron Davis in talks to buy Reebok!!!
Learn the details of the deal...What this means for new designers
According to reports, hip-hop mogul Master P and former NBA All-Star Baron Davis are in talks to buy Reebok. The two may be able to acquire the company from it’s iconic parent brand Adidas for 2.4 billion USD. They envision a more dimensional presence for the once reputable brand, with hopes of expanding opportunities in ways that have yet to be seen.
Reebok has had collaborations with iconic figures in hip-hop on several occasions. Their partnership with Jay-Z on his Sean Carter shoes boosted company sales 17 percent back in 2004. There’ve even been more recent ventures with Cardi B and Lendrick. However, Reebok has struggled to maintain prominence lately - failing to appeal to today’s influencers and tastemakers. The challenge to recognize the company’s intended target market has further contributed to its present-day identity crisis.
Miller and Davis not only intend to revitalize the once reputable brand but to create unpredicted opportunities within the Black community. With existing entrepreneurial merit and community at the core of his goal, Master P shared with Forbes “our most important initiative will be to put money back into the community that built this company”. They hope to create platforms for smaller shoes brands and companies to gain exposure and capital. “I want the people I know — athletes, influencers, designers [and] celebs — to sit at the table with me,” Davis shares. Together they have mogul expertise that span across the industries of sports, music, fashion and much more; falling right in line with their aims for Reebok.
The decision of whether or not the brand is surely up for sale is said to be announced in March of 2021. Adidas has yet to publicly comment on the matter.