Reebok, a brand with a rich history in the sneaker world, has been making significant moves to reclaim its position in the market. Under the leadership of CEO Todd Krinsky and the ownership of Authentic Brands Group (ABG), the company is implementing strategies to resonate with both long-time fans and new consumers.

Strategic Reboot in 2023

After ABG acquired Reebok from Adidas in March 2022, the company shifted to a licensing model, partnering with various retailers and manufacturers to expand its market presence. This approach allowed Reebok to reduce operational costs and focus on brand development.

The results of this strategy were impressive. By the end of 2023:

Pre-Tax Profit: Increased to $176.8 million, up from $92.1 million in the ten-month period ending December 2022.
Turnover: Rose to $276.4 million, compared to $206.1 million in the previous period.
Regional Sales:
- UK: Sales grew to $20.5 million from $11.1 million.
- USA: Increased to $144.1 million from $117.1 million.
- Rest of the World: Sales rose to $111.4 million from $77.7 million.

This financial growth reflects the brand’s successful reboot and renewed focus on global markets.

New Leadership and Vision

Todd Krinsky, a 30-year Reebok veteran who became CEO in September 2022, has brought a fresh perspective to the brand. His leadership focuses on three key pillars:

Innovation and Sustainability: Reebok is developing products that blend performance with eco-conscious design. The brand is investing in biodegradable footwear, reflecting its commitment to the environment.
Digital Growth: Reebok has enhanced its digital presence with initiatives like Reebok UNLOCKED, a program offering personalized experiences and exclusive content to fitness enthusiasts and socially conscious consumers.
Cultural Relevance: Collaborations with artists, designers, and brands have helped Reebok stay connected to cultural trends. By blending nostalgia with modern appeal, the brand is attracting diverse audiences.

Collaborations That Stand Out

Reebok’s recent partnerships have received praise for their creativity and cultural relevance:

SneAKA 2.0: A collaboration with the family of South African hip-hop icon Kiernan Forbes (AKA), limited to just 1,000 pairs, celebrated the late artist’s legacy while offering exclusivity to collectors.
Muji x Reebok Court Sneaker: A minimalist take on the classic Club C 85, this partnership with Muji appealed to fans of timeless and clean designs.

These collaborations highlight Reebok’s ability to connect with various subcultures, from hip-hop to minimalism.

Market Position and Hype

Despite these positive developments, Reebok currently does not command the same level of hype as brands like Nike, Adidas, Asics, or New Balance. Sneaker enthusiasts often prioritize models from these competitors, which are perceived as more fashionable or innovative. For instance, Asics' collaboration lines and models like the Gel-Kayano and Gel 1130 have seen a rise in popularity, while New Balance's 9060 and 2002r models have gained demand due to successful collaborations.

However, Reebok's classic models, such as the Club C, are appreciated for their affordability and versatility, making them ideal for everyday wear.

"Sport is Everything" Campaign

In November 2024, Reebok launched the "Sport is Everything" campaign, a 60-second anthem uniting athletes and artists from diverse backgrounds. This campaign emphasizes that sport transcends traditional definitions and is shaped by individual passions. Featured personalities include basketball icon Angel Reese, American football star Justin Fields, and rapper Tobe Nwigwe, who narrates the film. The campaign underscores Reebok's commitment to its community and marks its return to sport in the coming seasons.

A Bright Future Ahead

Reebok's progress has not gone unnoticed. The sneaker community appreciates the brand’s efforts to honor its heritage while embracing innovation. ABG has ambitious plans for Reebok, aiming to achieve $10 billion in retail sales in the coming years. This optimism is fueled by the brand’s strong global recognition and strategic initiatives.

Closing Thoughts

Reebok’s comeback is more than just a financial success; it’s a cultural revival. Under Todd Krinsky’s leadership and ABG’s ownership, the brand is embracing sustainability, expanding its digital footprint, and delivering products that resonate with today’s consumers. As Reebok builds on its 2023 reboot, it’s clear that this iconic brand is ready to step confidently into the future.

Source: Business insider, Reebok news

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