Is Master P Buying Reebok?
- by Nick Demaria
- January 30, 2021
As we have previously mentioned, Reeboks parent company Adidas had said they would like to sell the sports brand. Adidas bought Reebok for 3.8 Billion in 2005, hoping the brand would give them an upper hand over Nike. However, this has not been the case, and reeboks sales have been declining year after year despite celebrity collaborations.
Master P believes that he could connect with today’s market, especially since he plans to team up with former NBA star Baron Davis to acquire the company. Even though Adidas bought Reebok at $3.8 Billion, the company could sell for around $2.4 billion in the near future.
Master P plans to turn Reebok into a lifestyle brand rather than an athletic brand, which seems to be the right move for the current times. It will be an exciting story to follow throughout this year. Stay tuned for more updates.