Reebok
From Wikipedia, the free encyclopedia.
Reebok International Limited NYSE: RBK is a Fortune 500 company and producer of athletic footwear, apparel, and accessories. The name is another spelling of the word rhebok, a type of African antelope.
Reebok early beginnings date back to 1895 under a company called J.W. Foster and Sons of Bolton, United Kingdom. The family-owned business proudly made the running shoes worn in the 1924 Summer Games by the athletes celebrated in the film Chariots of Fire.
In 1958, two of the founder's grandsons started a companion company that came to be known as Reebok. In 1979, Paul Fireman, a partner in an outdoor sporting goods distributorship, spotted Reebok shoes at an international trade show. He negotiated for the North American distribution license and introduced three running shoes in the United States that year. At $60, they were the most expensive running shoes on the market.
Reebok surged in popularity in 1982 after the introduction of the Freestyle athletic shoe, which was specifically designed for women and came out when the aerobics fitness craze started. Not only was the Freestyle popular as athletic wear, but also on the streets as casual wear because of its comfort and sexy styling. As a result the Freestyle became an icon of the 1980's fashion scene with hi-top versions (including two velcro straps at the top) and colors including white, black, red, yellow, and blue. Reebok continues to produce the Freestyle to this day as it is popular with cheerleading, aerobic dancing, the gym, and dedicated consumers. In 1986 Reebok is the official shoe of Double Dare.
Following the heels of the Freestyle success, Reebok also introduced a popular athletic shoe for men, called the Ex-O-Fit. Similar to the Freestyle, it came in low-top and hi-top versions; however, unlike the Freestyle hi-top with two velcro closure straps, the Ex-O-Fit only had one strap.
In the late 80's, the company introduced the Reebok Pump line, which used an air bladder, inflated by means of a small pump integrated into the tongue of the shoe, to hold tightly to the wearer's ankle. This allowed for more aggressive maneuvering without injury, but also became a popular fashion element. Around 1993 they introduced an air transfer system which was incorporated into the sole of the trainer.
In the past, Reebok had an association with sweatshops, but today it is firmly committed to human rights. In April 2004, Reebok's footwear division became the first company to be accredited by the Fair Labor Association. The company holds exclusive rights to manufacture and market both authentic and replica uniform jerseys and sideline apparel of the teams of the National Football League since 2002, the National Basketball Association since 2004, the Canadian Football League since 2004, and the National Hockey League, and is the official shoe supplier to the NFL, NBA and Major League Baseball. Reebok was also a major sponsor of tennis star Andy Roddick, but ended their 12 year relationship in April 2005. Reebok continues to endorse Venus Williams.
The company includes such brands as Rockport, Ralph Lauren RLX shoes, CCM, Koho, Jofa, and Reebok hockey equipment and apparel, and Reebok Classic, G-UNIT, S. Carter street lifestyle shoes and apparel. It maintains its relationship with its origins in England through a long-term sponsorship deal with Bolton Wanderers, a Premiership football club. When the team moved to a brand new ground in the late 1990s, their new home was named the Reebok Stadium. 2005 UEFA Champions League winners Liverpool won the trophy - their fifth - wearing Reebok kit, and another English Premiership club, Manchester City, signed a near £5m four-year kit deal with Reebok in 2003 [1]. In 2005, Reebok also signed an exclusive agreement to design and supply all 8 team strips for the new Australian A-League competition [2]. Reebok also sponsors the Grand Slam-winning Welsh national rugby team.
In August 2005, one of the company's largest rivals, adidas, announced that it would soon acquire Reebok for $3.8 billion. The acquisition would increase adidas' market share in North America and allow it to further compete with the world's biggest maker of sports apparel, Nike. The deal is expected to be completed by the second quarter of 2006.
