Here’s a stunner to hit the very competitive world of athletic footwear and all the surrounding cultural ramifications. Adidas is buying Reebok. The combo of the #2 and #3 sporting goods companies would make a fearsome competitor to Nike, “particularly in the United States, which accounts for 50 percent of the sports footwear market alone.”
It will also combine celebrity endorsement assets. As the Sun-Sentinel states:
English soccer star David Beckham and rap artist Missy Elliott are under contract to Adidas. Reebok sells a line of shoes branded with rapper 50 Cent’s G Unit logo and is endorsed by such NBA stars as Allen Iverson and Yao Ming.
Reebok also has deals with Nelly and Jay-Z. Once the deal is completed next year, will Tracy McGrady and Tim Duncan be able get along with Iverson and Ming?