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SBD/April 12, 2011/Marketing and Sponsorship
Reebok Looks To Toning Shoes, Retro Sneakers To Match Profits With Parent Adidas
Published April 12, 2011
BOUNCING BACK: Bloomberg Contributing Editor and former Reebok President Jay Margolis said adidas has "done a great job recently" in trying to revitalize the Reebok brand. Margolis said, "We worked so hard at building the cool factor because at the end of the day that's what this young consumer is purchasing. We signed a deal for the exclusive rights for the NFL, NBA, NHL. We signed rappers. ... It was an amazing time to try to create that but we were doing it through association. So when adidas came along and bought the company ... I'm not sure they bought what they thought. It was not a cool company. It was being discounted ... and it's been a long process to get them back to really being a credible company and a credible player." Margolis said adidas hasn't been able to make their money back from Reebok because "they paid a huge amount for the company," and Reebok at that time "started fading, it started going in a different direction" ("In The Loop," Bloomberg TV, 4/12).