Rapper Percy Miller believes that bringing back Allen Iverson to the forefront is the way to go for Reebok to rival Michael Jordan and Nike.
Master P and Baron Davis have been involved in talks regarding the sale of the struggling Adidas brand. Acquired by the European sportswear giants for $3.8 billion in 2006, Reebok has been on the downturn all these years. Although certain sentimental value is attached to it by millenials, Reebok isn’t appealing to younger audiences.
Forbes reports that Adidas is looking for a cut-your-losses price tag of $2.4 billion. Adjusted for inflation, this is almost half what they paid for it in 2006. These are clear indications that Rebook needs a shot in the arm, and desperately.
Master P plans to highlight Allen Iverson at Reebok like Michael Jordan at Nike
Iverson has been, without a doubt, the best sneaker salesman on the Reebok roster. He carries with him a cool air such that even 10 years after retirement, he has a cult following. The Reebok Answer series is about 25 years old today, but it still headlines their basketball sneaker sales.
“The way we look at Michael Jordan for Nike (NKE), we look at Allen Iverson that way in Reebok,” Miller says. “We need to bring him to the forefront. We need to bring in better designers. We also need to make this for the millennials. And I think that that would be a game changer.”
Master P shares vision for Reebok: “Crown @alleniverson and give him his righteous icon status for being probably the most elite athlete wearing Reebok. Allen Iverson is Jordan for Reebok. Nobody never gave him the royalties or ownership as the icon for the brand.”
— Eric Woodyard (@E_Woodyard) December 29, 2020
Master P also revealed that he does not plan to pay Adidas their asking price of $2.5 billion. The rapper believes he can get a deal done for $500 million. How Adidas will respond to this, we currently don’t have an idea. But P’s certainty and confidence brings into question the real worth of Reebok today.