Investment
Master P & Baron Davis Could Make History as they Position themselves to Acquire Reebok By BOTWC Staff
HIP-HOP MOGUL AND BUSINESSMAN Percy "Master P" Miller and former NBA All-Star Baron Davis are in talks to purchase Reebok, which could sell for around $2.4 billion. If the duo acquires the brand from its parent company, Adidas, it will be the first Black-owned major sneaker brand. Adidas acquired Reebok in 2005 for $3.8 billion, but its value has decreased, and the sneaker giant is looking to offload the brand. "I think Reebok is being undervalued," Davis told Forbes. "I left Nike as a 22-year-old kid representing myself and made the jump to Reebok, which took a chance on me as a creative and as an athlete. I want the people I know — athletes, influencers, designers, celebs — to sit at the table with me." In 2003, Sean "Jay-Z" Carter signed with Reebok and dropped the S. Carter shoes (www. sneakerfiles.com/reebok/reebok-rbk-s-carter-jay-z). The next year, Reebok's U.S. footwear sales grew by 17%, primarily due to its continued investment in hip-hop. Miller and Baron reportedly plan to make it
easier for independent sneaker-makers to get their products distributed. "As we focus on turning Reebok into a lifestyle brand, not just a basketball brand. Our most important initiative will be to put money back into the community that built this company," Miller told reporters. "These companies have been benefiting off us; this could be history for this company going Black-owned." T h e businessmen are entrepreneurs with their hands in media, technology, sports, music, and fashion. And as we recently reported, Miller started his Uncle P food products (http://uncleprice.com). Miller has an estimated net worth of over $200 million, Davis $60 million. "We want this to be a community effort that sets up the next generation of leaders for success," Vy Le, COO of Baron Davis Enterprises (www. barondavisenterprises.com), said. www.becauseofthemwecan.com//blogs/culture/ master-p-baron-davis-could-make-history-asthey-position-themselves-to-acquire-reebok
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January-February 2021
DAWN
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