Why Reebok is anonymous in the market today?
Reebok is a name that was once very popular for its sports products, but what happened to this brand that used to beat the sales of brands like Nike, is that its products are hardly visible in the market today. Well, this matter is not as simple as it seems. There are a couple of reasons for this. Let us know how Reebok was started, what were the problems faced by it and what is the reason that today Reebok is anonymous in the market.
How did Reebok get started?
Reebok started in the year 1958 as a family business in the city of Bolton. It was started together by two brothers, Joe Foster and Jeff Foster and both of them had a small family shoe business called JW Foster & Sons. The smaller this business was in appearance, the more it used to keep its quality better. Please tell that the invention of spikes shoes was done by these two brothers. Once it happened that two runners wore spikes shoes in the Olympics. It is amazing that both those runners won gold medals in the Olympics. Then JW Foster and Sons started becoming very popular in England. He wanted to make this brand global and that is why he changed the name of his family business to Reebok. So here was born Reebok. Meanwhile, what steps did the company take, due to which they got successful? But in the meantime, what mistakes did he make that he suddenly got engulfed in the darkness of oblivion?
The reason behind Reebok's success was to create products according to its trends. At the same time, these same trends brought Reebok to number two. In fact, the trend of aerobics in the US gradually decreased and Reebok, which was at number one, reached number two. In such a situation, Nike took advantage of this opportunity and started launching better products than Reebok in the market.
In the year 2021, Adidas sold Reebok to ABG Group for just $ 2.5 billion, while it bought Reebok for $ 3.8 billion. Now it remains to be seen whether Reebok can establish itself in the market again.
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