Master P & Baron Davis Could Make History As They Position Themselves – BOTWC

Culture

Master P & Baron Davis Could Make History As They Position Themselves To Acquire Reebok

Master P & Baron Davis Could Make History As They Position Themselves To Acquire Reebok

They're making moves!

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. 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." 

The 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. 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, said.

 Keep growing your empire! We're rooting for you!