Even the very best brands can lose their lustre. People get tired of things and move on. So, the question must be: once a company has gone out of fashion, can it return to the mainstream? If that’s the case, is Reebok making a comeback? Or are some flavours simply past their prime?
I love a good comeback story. You know what I’m talking about: the main character races towards the snow-capped mountains, desperate to escape the pack of wolves hard on his heels. When we think he’s gotten to safety, a low rumble sounds, and he looks around, thinking it’s all in his head. He’s managed to escape the wolves, yet can’t help but shake the feeling something’s off. And it is. Before he can move a muscle, a colossal avalanche occurs. Our guy is under a thick pile of snow. Then, just as the tears roll down your cheeks, his hand pushes through the snow. He’s alive! When I think about Reebok, that’s where my head – albeit with its crazy way of visualizing things – tends to travel. There seems to be something in the wings with this brand, and some influential people are hopeful. So, should we be holding our collective breath, or is there some sick joke at play that will mess with the minds of the people for whom this brand once synonymized so much? Before figuring this out, let’s take a few steps back and explore how we got here and then look at whether or not a Rebook comeback is even possible in 2024.
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Reebok Nostalgia
What a time it was to grow up as a basketball fan in the ’90s! Though Michael Jordan was the undisputed Main Man and the one who introduced many of my generation to a deep appreciation of basketball (and, by extension, sneakers) because of how his appeal took it global, there were other greats, too. Sometimes, it’s all too easy to forget that. The NBA was – and still is – an incredibly talented league, home to arguably the best in the world. I can name Kobe, Penny Hardaway, Grant Hill, Reggie Miller, Gary Payton, Hakeem Olajuwon and many others. There was also Shaq, and there was The Answer – Allen Iverson. I single out these last two players because they’ll show up later in this post as part of a future that Reebok wants to see. As a teen, these two players got me to notice Reebok. It was a name synonymous with athletic innovation. Remember the Pump? One of the first moments of palpable jealousy I felt was seeing a schoolmate saunter into the schoolyard with a pair of Pumps. I remember seeing a crowd gather around him to have a turn pumping his shoes. The ‘oohs’ and ‘aahs’ still echo in my brain to this day.
Iverson wore the Question, Shaq rocked the Shaq Attaq, and we dare not forget that rim-rocker Shawn Kemp who brought us pure joy with the Kamikazes. There was no doubt that Reebok dominated the sportswear landscape. However, as time passed, the brand struggled to maintain its position against industry giants like Nike and Adidas.
The Fall
The decline that Reebok started to experience after its glory days in the 90s can be attributed to several factors. The company’s struggle to adapt to evolving sneaker trends and the ever-growing influence of its competitors – specifically the two mentioned above and even Puma – hampered growth. Their focus on purely performance-driven footwear failed to adapt to the growing consumer demand for stylish, lifestyle sneakers, which Nike was mastering very quickly, as we wrote in this article.
The final nail in Reebok’s coffin came with its acquisition by Adidas in 2006. Speculation arose that the German brand might have employed the classic strategy of acquiring competitors to stifle market competition, potentially hindering Reebok’s independent development. While Adidas ownership saw collaborations and classic releases keep Reebok afloat, a true resurgence never happened. By this time, the brand lacked the innovation to reclaim its former market share.
The Reebok Comeback?
In 2021, Authentic Brands Group (ABG) acquired Reebok and several smaller brands ahead of its IPO. ABG already has a lot of respect for successfully revitalizing heritage brands like Barneys New York and Aeropostale. Their strategic approach is about leveraging brand heritage while maintaining a strong awareness of current trends. So, there is immense promise that something good will happen in Reebok’s future.
What they did in October 2023 should get us all excited. In a move that showed that the company wanted to return to its roots, Reebok appointed Shaq and Allen Iverson to lead its newly-formed Basketball division. O’Neal took the helm as President, while Iverson assumed the role of Vice President. It’s a move that makes perfect sense. As we can see, both Shaq and Iverson have a long history with Reebok. O’Neal’s iconic “Shaq Attaq” line remains a cornerstone of the brand’s basketball heritage. At the same time, Iverson’s signature sneakers were tremendous trendsetters during his playing days. What better pair could they have picked to run things? They’re the perfect duo to head the Reebok comeback.
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More Than Just Nostalgia
Looking deeper, bringing on Shaq and AI goes beyond just walking down memory lane – this is a huge strategic business decision. In addition to giving us some of entertainment’s funniest moments, Shaquille O’Neal is a serious power player with a proven track record of business success. His charisma and larger-than-life personality will undoubtedly resonate with athletes and consumers, potentially attracting new partnerships and boosting brand awareness. Iverson, a cultural icon known for his innovative style and connection with streetwear culture, will be instrumental in propelling Reebok’s basketball apparel forward and fostering a strong connection with younger generations, many of whom weren’t born when Reebok was at its peak.
We can’t understate the significance of this move. It’s not a mistake that Reebok would pull in two basketball legends as part of their turnaround strategy (if that’s even the right thing to call it. This feels more like a rebirth than a turnaround). Basketball has gone well beyond just being a sport; it’s a global cultural phenomenon with a passionate consumer base interested in sneakers and much more. By re-establishing itself in this arena, Reebok positions itself to capitalize on this immense interest and tap into the lucrative sneakerhead market.
The Reebok Legends Speak
While watching a fascinating edition of Complex Sneakers’ ‘Goes Sneaker Shopping’ YouTube series featuring the former athletes, I got to hear the plans Shaq and AI have for Reebok. It was like being taken back in history, watching both men with their game faces on, ready to take on something new. Shaq caught my attention with this:
“When you’re a great athlete like we were, it’s all about challenges. So, that’s just another challenge for us.”
Showing that they’re confident in potentially poaching even current NBA players with existing deals with other brands, Shaq brought up the Phoenix Suns’ Devin Booker, who hinted at not being happy with the launch he got for his signature shoe with Nike. It would seem Shaq is interested in poaching him. They also talked about their interest in talking to Jay-Z and as many big-time celebrities as willing to discuss becoming part of Team Reebok. The video ended with the two legends sharing their passion for seeing young fans wearing Reebok footwear. Shaq and Iverson reminisced about their childhood desire for Jordans, making seeing the next generation embracing their shoes meaningful.
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Is It That Simple? Is A Reebok Comeback Even Possible?
We know the power of attaching big names to a brand and how it has worked wonders for many companies seeking to rebuild or turn things around. So, does having Shaq and AI around mean that this is a fait accompli? Not necessarily.
To be clear, Reebok’s comeback and re-entry into the basketball market is laden with both opportunity and challenge. The star power of the two men is an undeniable asset, offering instant brand recognition and a connection to a passionate fanbase. However, to truly record a win here, Reebok still has to navigate a landscape dominated by Nike and Adidas. Those two won’t be letting up any time soon.
Reebok needs innovative, performance-driven products that can stand toe-to-toe with established offerings from the two giants to compete effectively. Hoping that only nostalgia will seal the deal will not seal the deal. Fresh designs and cutting-edge technologies are crucial to capturing the attention and loyalty of today’s demanding athletes and consumers.
Developing cutting-edge basketball footwear that prioritizes both performance and style will be vital. This might even include some kind of strategic revival of classic Reebok technologies like The Pump, reimagined for the modern athlete (and people like me who could only watch as others pumped their pumps—now we’re grown folk and can cop our own).
Another critical area that Reebok must master is creating a new and compelling narrative. They can leverage the legacies of Shaq, AI, Shawn Kemp and others because this will be a vital asset. These old-timers sharing their experiences and passion for the game can inspire younger generations and create an emotional connection with consumers.
In closing, I would love a reemergence of the Reebok brand. Even if it does not look and sound the same as it did when I was younger, it has enough going for it with Shaq and Iverson to build a strong, new story. When there’s good, healthy competition in business, companies are compelled to build better products and services, and when there are better products and services, it’s us—the consumers—who win. Who doesn’t love a good comeback story?
Do you believe Reebok is making a comeback?
