The fashion industry has taken one of the biggest hits due to the COVID-19 pandemic. This is why adidas owned brand Reebok was down 42 percent in revenue during the second quarter of 2020. As the brand’s performance showed a steep decline,adidas aims to sell the company by March 2021, and potential buyers have slowly started to line up. Among these potential buyers are the well-known rapper Master P and former NBA player Baron Davis.
With an expected price tag of $2.4 billion, Master P and Baron believe Reebok has more to give as they aim to recreate the brand’s identity. They plan to do this by transforming Reebok more of a lifestyle brand rather than one that is focused primarily on basketball. Furthermore, Master P and Baron also aim to give back to the community by providing smaller footwear companies with the opportunity to be distributed by Reebok.
In a tweet posted on December 30, 2020, Master P showcased his keenness to secure the billion-dollar deal and return the favor to the community.
If all goes well, adidas, Master P, and Baron Davis will secure the deal in the coming months of the new year. This will leave the rest of the year for us to see the new direction Reebok will take with its new leadership.
Are you excited for this deal to take place? Let us know in the comments below! To look back at a past Reebok project during 2020, head over to this article about this OG Reebok Question Low.