""I'm tired of hearing about money, money, money, money, money. I just want to play the game, drink Pepsi, wear Reebok." - Shaquille O'Neal
Reebok (NYSE:RBK), also known as Reebok International Limited, is a global manufacturer of athletic shoes, apparel, and accessories. From African gazelle to spiked running shoes, Reebok has been running fast for more than a hundred years, however the roots of Reebok lay in another company, JW Foster and Sons. In 1893, a famous English runner Joseph Foster customized a pair of running shoes for himself by adding spikes to the sole. Other runners quickly took notice of this innovation, prompting Foster to create his own shoe company, JW Foster and Sons of Bolton, United Kingdom, in 1894. The company remained a moderately successful, but little-known British shoe company, providing the running shoes worn at the 1924 Summer Olympics, until 1958 when Foster's grandsons created a sister company, Reebok. Reebok would later absorb JW Foster and Sons to create a unified brand.
In 1979, Paul Fireman, a partner in an outdoor sporting goods distributorship, noticed the high quality, custom-made track shoes at a Chicago trade show and saw potential in the century old company. He acquired exclusive rights to distribute Reebok shoes in North American and subsequently started the company known as Reebok USA and introduced three running shoes the same year. At $60 a pair, they were the most expensive running shoes on the market at the time.. The company faced stiff competition from the already established Nike and rather than try to compete directly, Reebok chose to develop niche markets and product lines such as women's fitness and aerobics shoes.
By 1981, Reebok's sales exceeded $1.5 million, but a dramatic move was planned for the next year. The company surged in popularity in 1982 when Reebok introduced the Reebok Freestyle athletic shoe. The shoe ,an oxford-style sneaker specially designed for women, was an instant success with the current aerobic dance craze in full swing. Reebok and Reebok shoes became the hot brand for aerobic buffs everywhere and the Freestyle has been hailed as Reebok's most successful athletic shoes of all time. But the success of the freestyle was not entirely due to its athletic uses. It also became the icon of the 80's fashion world used for casual wear because of its comfort and sleek style. A high top version was released (identified by the two velcro straps around the ankle collar) and additional colors were released, including white, black, red, yellow, and blue. The Freestyle continue to be produced.
The 80's were Reebok's decade of success. The company also developed and released the famous Pump technology marketed with the memorable slogan "Pump It Up" in the late 80's. The shoes used an air bladder, inflated with a small pump integrated into the tongue of the shoes, to hold them tightly to the wearer's feet. Such technology has been parodied by Mel Brooks in his 1993 film, Robin Hood: Men in Tights. Sidekick Ahchoo, played by comedian/actor Dave Chappelle (Chappelle's Show, Undercover Brother, and Half Baked), called a timeout in a fight with the Sheriff's men to pump up his sneakers.
Despite its financial and cultural success, Reebok struggled with the problem of producing a high-quality, cost efficient product without compromising its values or offending moral and cultural standards. The company's failure to divest from South African in the 1980's and its former association with sweatshops severely hurt its reputation, causing the company to institute an aggressive human rights agenda in the 1990's. As part of the campaign, Reebok established the Human Rights Award which is presents to prominent civil rights activists once a year.
