Percy "Master P" Miller and Baron Davis are in talks to do something that may alter the trajectory of fashion and culture for years to come. Initial reports suggest that Davis and Miller are leading an investment group that is seeking to acquire Reebok for $2.4 billion.
“These companies have been benefiting off us, this could be history for this company going Black-owned,” Miller said.
“Imagine if Michael Jordan owned Reebok? That’s what I’m talking about making history.”
If successful, Miller and Davis will have a ton of work ahead of them. During the second quarter of the year, Reebok's sales dropped by more than 40%. Furthermore, the company accounted for less than 10% of Adidas' sales during the first half of this year.
Luckily, Miller and Davis have a long resume of launching and running businesses. Throughout his career, Miller has launched No Limit Records, wrote his own book and partnered with James Lindsay to relaunch Rap Snacks. Davis is best known as a former NBA point guard, but he is also one of the original investors with Vitamin Water and the leader of Baron Davis Enterprises.
“I think Reebok is being undervalued,” Davis said about the apparel brand.
“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.”
Adidas purchased Reebok for $3.8 billion in 2005. The parent company is expected to make a decision regarding the potential deal within the next few months.
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