Reebok
Reebok International Limited (/ˈriːbɒk/) is an American fitness footwear and clothing brand that is a part of Authentic Brands Group. It was established in England in 1958 as a companion company to J.W. Foster and Sons, a sporting goods company which had been founded in 1895 in Bolton, Lancashire. From 1958 until 1986, the brand featured the flag of the United Kingdom in its logo to signify the origins of the company. It was bought by German sporting goods company Adidas in 2005, then sold to the United States-based Authentic Brands Group in 2021. The company's global headquarters are located in Boston, Massachusetts, in the Seaport District.
For the South African antelope, see Grey rhebok.Formerly
Reebok
- Private (1958–1985)
- Public (1985–2005)
- Subsidiary (2005–present)
Textile, Sports equipment
Jeff and Joe Foster
- Bolton, England
- (1958–1984)
- Canton, Massachusetts
- (1984–2016)
- Boston, Massachusetts
- (since 2016)
Worldwide
Todd Krinsky (CEO)
Sportswear, footwear
- Adidas (2005–2021)
- Authentic Brands Group (2021–present)
History[edit]
Early years[edit]
In 1895, Joseph William Foster at the age of 14 started work in his bedroom above his father's sweetshop in Bolton, England, and designed some of the earliest spiked running shoes.[4] After his ideas progressed, he founded his business J.W. Foster in 1900; later he joined with his sons and changed the company name to J.W. Foster and Sons.[5] Foster opened a small factory called Olympic Works, and gradually became famous among athletes for his "running pumps".[4][6] The company began distributing its shoes across the United Kingdom, which were worn by British athletes. They were made famous by 100m Olympic champion Harold Abrahams in the 1924 Summer Olympics held in Paris.[6][7]
In 1958, in Bolton, two of the founder's grandsons, Jeff and Joe Foster, formed a companion company "Reebok", having found the name in a dictionary won in a sprint race by Joe as a boy.[3] The name is Afrikaans for the grey rhebok, a type of African antelope.[6][8]
In 1979, American businessman Paul Fireman took notice of Reebok at the Chicago NSGA (National Sporting Goods of America) Show. Fireman had previously been an executive with his family business Boston Camping,[9] and negotiated a deal to license and distribute the Reebok brand in the United States. The division became known as Reebok USA Ltd.[10] That year, Fireman introduced three new shoes to the market at $60. By 1981, Reebok reached more than $1.5 million in sales.[5]
1980s–1990s[edit]
In 1982, Reebok debuted the Reebok Freestyle aerobics shoe, the first athletic shoe designed for women.[5][11] The following year Reebok's sales were $13 million,[12] and Fireman bought the English-based parent company in 1984. Officially an American company in 1985, Reebok had its initial public offering on the New York Stock Exchange under the ticker symbol RBK and was renamed Reebok International Limited.[7][13]
The brand established itself in professional tennis with the Newport Classic shoe, popularized by Boris Becker and John McEnroe, and the Revenge Plus, also known as the Club C. The company began expanding from tennis and aerobics shoes to running and basketball throughout the mid to late 1980s, the most significant segment of the athletic footwear industry.[13] One of the company's most iconic technologies,[14] the Reebok Pump, debuted in 1989[15][16] with more than 100 professional athletes wearing the footwear by 1992, including Shaquille O'Neal.[5][17]
In 1986, Reebok changed the company logo it had used since its founding, from the flag of the United Kingdom to the vector logo—an abstract Union Flag streak across a race track—which mirrored the design of the side flashes of its shoes.[18] The switch signaled the transition of the company into a performance brand as it began licensing deals with professional athletes in the NBA and NFL.[19] Reebok also began developing sports clothing and accessories, and introduced a line of children's athletic shoes called Weeboks.[20] It acquired Rockport for $118.5 million in 1986.[21] By mid-decade, Reebok's sales were about $1 billion, and it overtook Nike, Inc. as the largest athletic shoe manufacturer in the US before losing the top position in 1988.[22][1]
Reebok worked with fitness professional Gin Miller in the late 1980s to develop Step Reebok, based on Miller's wooden prototype step and her ideas for step aerobics. The Step was evaluated in physiology trials undertaken by Drs. Lorna and Peter Francis at San Diego State University. In August 1989 the Step was ready, made in molded plastic by Sports Step of Atlanta with Reebok's name on it,[23] and by March 1990, the step aerobics classes were attracting media attention.[24] Miller promoted Step Reebok in person, touring the U.S. and demonstrating it at exercise studios. Step aerobics became widely popular, helping the company sell many thousands of adjustable-height step devices and millions of high-top shoes with ankle support.[8] Step aerobics peaked in 1995 with 11.4 million people exercising in that style.[25]
Reebok named Carl Yankowski president and chief executive officer of the brand in 1998, replacing former president Robert Meers.[26][27] Yankowski stepped down one year later to accept an executive position at another company. Reebok chairman and CEO Paul Fireman took over as president for the first time in 12 years.[27]
Offices[edit]
Reebok's global headquarters are located in Boston, Massachusetts, in the Seaport District.[52][53] In EMEA countries, Authentic Brands Group is working with Bounty Apparel in South Africa, Al Boom Marine in the Middle East and North Africa, and Flo Magazacilik in Turkey to grow the business.[54]
Endorsements[edit]
Asia[edit]
Reebok sponsored kits for top seeded Indian Football clubs, Mohun Bagan AC (2006–11) and East Bengal FC (2003–05, 2006–10).[70] Later it sponsored kits for Indian Premier League teams, such as the Royal Challengers Bangalore, Kolkata Knight Riders, Rajasthan Royals and Chennai Super Kings in the first edition of the league held in 2008. However, for the second edition held in 2009, the sponsorships included Royal Challengers Bangalore, Kolkata Knight Riders, Chennai Super Kings, Kings XI Punjab kits.[71][72]
In May 2012, Reebok India filed a criminal complaint against former managerial employees, Subhinder Singh Prem and Vishnu Bhagat, accusing them of a financial fraud of up to US$233 million.[73] On the charge of alleged Foreign Exchange Management Act (FEMA) violations, Reebok India was booked and may face penal action.[74] Twelve further arrests of employees and associates were made during the same period. As of July 2013, Prem and Bhagat were granted bail by the high court but remained imprisoned following their detainment in September 2012.[75]
One of Reebok's most prominent athletes, Indian cricketer Mahendra Singh Dhoni, was named by Forbes as the world's thirty first highest-paid sportsperson in June 2012. At the time of the article, Dhoni endorsed more than 20 other brands in deals that were cumulatively valued at US$23 million.[76]
