E5. Joe Foster (Reebok Founder): The Skill You Need To Build Brand Legacy, Going From Zero To $4B In Sales In 5 Years, How To Leverage New Trends

Sir Joseph Foster is one of the world's foremost entrepreneurs and built Reebok from scratch to a $4 billion company. During the aerobics and running craze, Reebok was the #1 sportswear and shoe brand in the US and the world. In this episode, we cover how Reebok grew from almost zero to $1 billion in just five years, what made them successful and the constant barriers and hurdles Joe had to overcome over several decades. This is an incredible story of the grit and dedication to build a truly world-leading brand.

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Joe: http://instagram.com/reebokthefounder

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Topics:

00:00 Intro

02:37 An 87 year old's traveling schedule

04:59 Growing up during WW2

07:11 Joe's grandfather's shoemaking legacy

10:22 The world's first influencers (in 1920)

13:06 Supplying Premier League clubs and Olympians with shoes

17:04 The birth of Reebok

22:20 Joe's father's sad moment

25:50 The story behind the name Reebok

32:50 The struggle

35:26 Threats from Adidas

37:01 American Express Platinum

38:05 Sidejobs and sacrifices

41:50 Competing with Adidas and finding a new business model

44:40 11 years and 6 failures of entering America

49:15 Competing with Nike and Phil Knight

58:53 Dealing with rejection over several decades

01:04:20 Aerobics taking Reebok to $1 billion in less than 5 years

01:07:37 Keeping up operationally with $1 billion in demand

01:09:19 Joe's personal life during the years of crazy growth

01:11:18 Taking a step back from your life's work

01:15:49 Seeing the false story about how Reebok began

01:17:51 Reebok’s future and going from $5 to $10 billion in retail

01:21:17 Have the sacrifices been worth it?

01:23:38 Joe's confessions

01:25:10 Advice to others with long-time struggling

01:27:25 Starting without any money

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