Last week news broke that Reebok is up for sale by parent company Adidas Group, and that rapper Master P AKA Percy Miller is one of the interested parties. Adidas which acquired Reebok in 2006 for $3.8 billion, has seen steady decline in the brand over the years and finally decided to put it up for sale.
Miller already launched one sneaker brand, Moneyatti, in 2018. His bid for Reebok includes NBA veteran Baron Davis as a partner, and, he told Yahoo Finance Live last week, he has also invited Shaquille O’Neal (who has had success with his Papa John’s investment and board seat) to have “a seat at the table.” Miller believes Reebok “definitely can be revamped,” and that majority Black ownership could make the brand cool again.
If Miller succeeds in acquiring Reebok, he looks to put Allen Iverson as the face of the brand front and center. Iverson, whose final NBA game was in February 2010 (though he didn’t officially retire until 2013), has had a signature shoe deal with Reebok since 1996. But Iverson hasn’t played in the NBA in 11 years, never won a championship, and so the question becomes will his star power resonate with the kids and Millennials of today.
“The way we look at Michael Jordan for Nike (NKE), we look at Allen Iverson that way in Reebok,” Miller says. “We need to bring him to the forefront. We need to bring in better designers. We also need to make this for the millennials. And I think that that would be a game changer.”