Reebok may be getting a new owner, as its German sportswear parent company Adidas looks to offload the household name brand. Once a cultural icon of epic proportions, Reebok has struggled in recent years to gain a foothold with today’s trendsetters and tastemakers. This could be changing as new buyers including a business dream team of hip-hop business mogul, Percy “Master P” Miller and former NBA All-Star Baron Davis are looking to acquire the company and bring Soulja Slim's legacy to a whole new level, and could garner an asking price of around $2.4 billion. Is it time for the culture to take ownership of some of the products it helped to cultivate?
Remember that sneakers by rappers like Kanye West, Drake and Pharrell with companies including Nike and Adidas have created a consumer frenzy, as these influencers dictate business and trends. Cultural endorsers have basically usurped athletes as the go-to tastemakers in the sneaker industry. Hip hop artists have gone from subtle co-signers who helped start grassroots movements, to indirect ad men, to power brokers. Reebok’s latest cultural influencers to head up its roster include rap sensations Cardi B and Kendrick Lamar.
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