The Rebook International Ltd is an over-all designer, distributor, and marketer of fitness, sports and lifestyle artifacts’ has its headquarters in Massachusetts, Its ancestor company founded in the United Kingdom was started to cater for the need of right athletic shoe for running fast. Reebok was begun by a grandson of one of the founders of its ancestor company based in the United Kingdom. Fast forward, in 1982 Reebok made a significant milestone in the industry by inventing athletic shoe designed for women only after the company observed that many women were embracing sports.
What do you think of Reebok’s strategy overall? Has it worked?
I am not surprised that is and has been among the leading sportswear stores in the global set up. The strategies showcased by Rebook are mind-blowing. Looking for different and unique ways to connect and establish a relationship with customers was a great idea. The resolution to explore new ways of growth as was a good strategy.The Chief Executive Officer Dennis Baldwin stated: “We realized that we weren’t relevant with the young consumers, we did a lot of Brainstorming; we decided that sports mattered, but so did fashion, and we wanted to look at the market through the lens of youth culture rather than sports.” The fact that Rebook decided to aim the youths and fashion, while still at it, introduce partnerships with the celebrities as Pharrell Williams has made Rebook stay relevant in such a competitive market over the years. Besides, we cannot ignore the fact that Rebook’s emphasis on creative design, branding, quality products and excellent choice of the target market improved its performance. Athletes endorsement was another strategy worth every dime.Reebok’s most prized contract is with a basketball player Allen Iverson who is to be compensated $10 M per year for wearing Reebok products. Rebook’s strategy has worked.
Has this strategy helped Rebook compete against Nike or Adidas? Why or why not?
The strategy might have helped Rebook to stay relevant in the industry. However, the sad truth is that it has not been able to compete against the two giant company’s, i.e., Nike and Adidas. The idea of creating a subsidiary company-RBK that took street fashion on another levelwas a genius step.RBK brought to the market a cultural relevant collection that represented a combination of athletics, street fashion and hip-hop attitude. Having done Like Nike and Adidas, Rebook will need to research mainly and come up with better and unique strategies to counter the two giants. For example, rather than rebook having an athlete in its commercials they can avoid airing his success and feature his/her failure. That way, the business can uphold the brand and still encourage viewers who may be going through hardships.
Are there other types of music, or different types of clothes/apparel/fashion products that could to use the kind of creative synergy attempted between Rebook and Hip-hop in this case? Can you give examples?
Other types of music and fashion could use this type of creative collaboration by Rebook and Hip-hop. Rebook on the urge of still keeping in line with sports apparel and still maintaining the style, can consider having the fitness trainers as the products ambassadors and run video ads on social media. Talking of world cup songs, this would be a great prospect to collaborate with the artist and planners of a world cup. It would be a great platform to display the company’s sportswear. The nature of the customers is that they will download and even share with others through social media platforms like WhatsApp. The strategy will be a plus for the company. Another example is that a fashion business can hire models who can do commercials with their flawless bodies through YouTube video ads.