Entrepreneurs on Fire
How the Founder of Reebok Built a Global Brand with Joe Foster
Jan 18, 2024
Joe Foster, Founder of Reebok, discusses his optimistic founding story and how Reebok surpassed Adidas and Nike in sales. He emphasizes the importance of patience, stamina, and enjoyment in entrepreneurship.
24:02
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Quick takeaways
- Entrepreneurs need to be naturally optimistic, as not everyone is inclined or capable of handling the risks of entrepreneurship.
- Reebok's strategic move of securing production facilities propelled them from a running company to the world's leading sports shoe company, surpassing Adidas and Nike in sales.
Deep dives
The Founding of Reebok: Overcoming Family Feuds and Starting a New Business
Joe Foster shares the story of how Reebok was founded. After witnessing the failure of his family's business, Joe and his brother Jeff decided to leave and start their own company, Mercury Sports Footwear. Within 18 months, the company transformed into Reebok. They faced challenges in financing and production, but through fortunate timing and the popularity of aerobics, Reebok saw rapid growth. They shifted their focus from running shoes to women's shoes and became a dominant force in the sports shoe industry, surpassing Adidas and Nike in sales.
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