Hip-hop business mogul, Percy “Master P” Miller and former NBA All-Star Baron Davis are looking to buy Reebok. The asking price $2.4 billion. German sportswear parent company Adidas looks to offload the brand.
Adidas bought Reebok back in 2005, actually pioneered the idea of signing rappers to shoe deals in the same way athletes were. Sean “Jay-Z” Carter signed with Reebok back in 2003 and dropped the S. Carter shoes. In 2004, Reebok’s U.S. footwear sales grew by 17%, due in large part to its continued investment in hip-hop.
Davis and Miller are both serial entrepreneurs with investments spanning sectors including media, technology, sports, music, fashion and even Miller’s latest endeavor with Uncle P food products. Click Here To Read More.