In an attempt to boost Reebok‘s name and popularity out in these Nike ran streets, Authentic Brand seems to be getting with the times and actually getting into the world of NFT’s to get some potential customers to invest in the OG sports attire.
According to Bloomberg, Authentic Brands Group Inc. (who purchased Reebok in 2021 for $2.46 billion) is looking to add clothing offerings and add NFT’s and crypto payments to help get the Reebok brand back in the limelight in the coming future. But that’s just the beginning and Authentic Brands Group are already taking steps to get Reebok attire all over the world and once again become one of the hottest sports brands in the game.
“With acquisition of the athleticwear brand complete, Authentic on Tuesday said it signed about a dozen distribution partners operating in more than 80 countries, including Foot Locker Inc., Farfetch Ltd.’s New Guards Group and luxury goods maker Falic Group.”
It’s quite the task as we all know that Nike and Adidas have a chokehold on the game thanks to Jordan Brand and Yeezy Supply. Still, Chief Executive Officer Jamie Salter says he expects Reebok to surpass $5 billion in global retail sales next year, up from $3.7 billion to $4 billion this year.
Reebok’s been pulling out all the stops in efforts to get the brand more attention from retro-ing classic silhouettes like the Shaqnosis sneakers to combining it with Damian Lillard’s line and created the “Damenosis.”
As for when you can expect to see NFT’s and crypto payments take affect, Authentic President Nick Woodhouse said he hopes to see those things happen sometime this year. Gotta get your coin wherever you can in 2022.
Should be interesting to see how that pans out for Reebok.
Would you be down to buy some Reebok NFT’s when they become available? Let us know in the comments section below.
Authentic Brands Plans To Get Reebok In The NFT & Crypto Payments Game was originally published on hiphopwired.com