Personally a big fan of Northern Spirit! Got a nice kit from them volunteering at the French throwdown and they are the best shorts I’ve worn and have lasted years.
@grace4nan Reebok had recently lost the NFL and their NHL deal was not renewed. If I recall correctly it expired in 2012 but Reebok knew it wouldn't be renewed.
Reebok correctly identified CF as a rapidly expanding opportunity, but failed to plan for how stupid Greg really was and how Greg getting rich would reveal his towering ignorance of the business he created.
@mbahchidinma They lost the NFL in a bidding war with Nike and Under Armor over a year later from signing with Crossfit. They didn't loose the NHL, Adidas their parent company took it over from them, but not until 2017.
@grace4nan Reebok signing that deal literally revitalized their brand. lol
Hell, the logo they invented for the Crossfit collab is now their main logo. I hadn't consider Reebok for 20 years before they took a chance on Crossfit.
@reneesinz45 Maybe they could have done even worse wo CF but they were not successful. They wanted out of the Games sponsorship deal, then they even cheated with the royalties.
@reneesinz45 False. Adidas paid $3.8 billion for Reebok in 2006. They sold it in 2021 for $2.6 billion.
The Reebok brand lost over $100million of value per year that they were attached to CrossFit, in addition to the $100M+ they spent on marketing, which obviously didn't work.
If we adjust for inflation it waaaaay worse. But, why kick 'em when they're down?
Partnering with CF was probably the most value-destroying apparel company decision this century.
@mbahchidinma Valuation loss and profitability are not the same thing. Reebok's average revenue remained fairly consistent over the decade with Crossfit as it was the decade before, despite losing the NFL (you can see the revenue dip in 2012 when NFL ended) and it rebound for nearly the entire rest of their tenure with Crossfit. 2020 excluded for covid.
