Origin Story with David McIntosh Jr #60 Reebok's Founder Joe Foster: The $4 Billion Dollar Pivot
Joe Foster is the Founder of Reebok. Reebok is a hallmark in British sporting history valued at over four billion dollars. Everyone knows Reebok but not enough people know Joe - the 87 year old - behind what became the world’s biggest sports brand.
The history of Reebok’s inspiration dates back to the late 1800s. Joe’s grandfathers brand, J.W Foster & Sons, invented the running spike and supplied track and field stars such as Eric Liddell.
Joe and his brother Jeff were frustrated by the company his father inherited after returning from national service. The lack of innovation left a bad taste in Joe and Jeff’s mouth.
So they left and pathed their own way.
The brothers went on to build the brand the surpassed Nike and Adidas giving Joe the most amazing multinational career.
Expect to learn:
- What post-WWII business in Britain look like
- The rationale behind the name Reebok and the litigations of patenting a brand
- Why having Adidas breathe over your shoulder is a driver not a drain
- How to penetrate the American sportswear market
- How Reebok overtook Nike’s running shoe
- How the aerobics boom created Reeboks first influencers and drove the brand to a billion dollars
- How Joe sourced a CEO/Business Partner
- The Day in the Life working in an organisation at that scale
- How Joe made the calculated decision to walk away when the brand outgrew him
- Joes lessons and advice reflecting on 87 years of a fulfilled life
Thank you Joe for joining me again!
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