Shaquille O'NealReebok basketball president, due to budget constraints, was forced to change the initial plan to sign the big name.
what happened: Shaq takes on the role of President of Reebok in 2023, and his vision restores the brand’s former glory through strategic partnerships with athletes and teams.
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However, he encountered unexpected budget restrictions. “I had to deal with something I never had to deal with: the budget. Because I thought, ‘Imma Sign Shai, I’m the signature of all these players.’ But, they want $60 million, and now I’m going to go back to the board and they said, “Man, you don’t have $60 million.” ”
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Reebok, once a major competitor to Nike, has dropped significantly since it was acquired by Adidas in 2006.
By the time O'Neal was in power, the brand was not even the top 7 in market share, essentially starting from scratch.
O'Neal's initial signing strategy Shai Gilgeous-Alexander Frustrated by financial restrictions. Instead, he signed Angel Reesis a female college basketball star who has personal contact with O'Neal through LSU.
Reese is the seventh pick in the 2024 WNBA Draft, and Reebok signed a multi-year extension in October 2024, making her the sixth WNBA player with signature shoes. Her signature shoes are expected to be released next year.
Why it matters: This unexpected partnership is a testament to the financial challenges that Reebok is currently facing. The inability to sign a big name could affect the brand’s revival strategy.
However, Reese, who signed in the women's basketball game, signed Reese, which could open up new avenues for the brand in the women's sports market.
The success of Reese signature shoes may be a key factor in determining the future trajectory of Reebok under O'Neal.
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