Roommates if ya’ll know one thing about Hip Hop Mogul, Percy “Master P” Miller, he’s all about Black enterprise. When it comes to his vision, he can sell water to a whale. The successful mogul is in talks to add another business to his empire. According to Forbes P, along with former NBA All-Star, Baron Davis is in talks to purchase Reebok footwear company for $2.4 billion.
The German sportswear parent company Adidas currently owns reebok. In late October, reports started to surface that Adidas was reportedly looking to sell the brand, 14 years after acquiring Reebok, which was founded in 1958. Last year, Adidas wrote down Reebok’s book value by nearly half compared with 2018, at $995 million.
With news like this, we reached out to P to see how long it could take for this deal to happen. P exclusively told TSR,” A deal like this takes time, but this is history for our culture! It’s time to buy back the brands that we built and be able to put money back into our communities!”
With P and Baron potentially becoming owners of Reebox, they can take the brand in another direction and use their Hip Hop influence to do so. The brand has collaborated with rappers JayZ and Kendrick Lamar in the past, so there is no telling what future collaborations would look like.
Baron spoke with Forbes directly and said, “I think Reebok is being undervalued. I left Nike as a 22-year-old kid representing myself and jumped to Reebok, which took a chance on me as a creative and athlete. I want the people I know, athletes, influencers, designers, celebs, to sit at the table with me.”
The deal hasn’t gone through yet, but this would definitely be something to look forward to in the next year. Roomies, how yall feel about this?!
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