SWOT Analysis Of Reebok analyzes, Reebok is an extremely popular label of sportswear and other products that originates out of the United Kingdom. It was founded in 1958 by Joseph William Foster in the year 1958, the business began by producing athletic footwear. The company now produces shoes for a variety of sports, sportswear and accessories for women, men and children. It is also one of the top players in the apparel marketplace. Presently, Reebok is headquartered in Massachusetts and had approximately 1.84 billion euros in annual revenue in 2017. Through close ties with several important athletic events through sponsorships as well as endorsements from famous athletes, Reebok has won the respect and trust of the majority of athletes from all over the globe. Reebok is currently producing products that are designed for running, training as well as crossfire, walking dance, yoga and studio.
Did you know?
Reebok hired Tuan Le when he was only 25, to come on board with their design team. He was charged with creating a pair of sneakers for the Ridley Scott film “Alien.”
Reebok was founded in England, in 1958, by a pair of brothers, Joe and Jeff Foster, to carry on a family tradition of making athletic footwear. Their grandfather, Joseph William Foster, had launched an eponymous company, J.W. Foster, in 1895 and developed one of the very first track spikes. Reebok is dedicated to providing each and every athlete – from professional athletes to recreational runners to kids on the playground – with the opportunity, the products, and the inspiration to achieve what they are capable of.
This can only be achieved through a firm with extensive knowledge, experience, and innovative strategies. To determine the strengths of the company potential, weaknesses, opportunities, and threats, it is necessary to conduct a SWOT analysis by Reebok.
Reebok At A Glance – Reebok SWOT Analysis
Company: Reebok International Ltd.
Founders: Joseph William Foster | Jeff Foster
Year of establishment: 1958, Bolton, United Kingdom
CEO: Matthew H. O’Toole
Headquarters: Boston, Massachusetts, United States
Employees (Dec 2020): 9,102
Ticker Symbol: RBK
Type: Public
Annual Revenue (Dec 2020): EURO€1.41 Billion
Profit net income (Dec 2020): EURO€322 Million
Products & Services: Sportswear | Footwear | Watch | Track Suits | Reebok Shoes | Small Bags | T Shirts | Backpacks | Sunglasses
Company Website: www.reebok.com
Top Reebok Competitors
Competitors: Nike | Fila | PUMA | Brooks | New Balance | Converse | Under Armour | Asics | Hanesbrands | Bata | Liberty Shoes
Reebok SWOT Analysis – SWOT Analysis Of Reebok
SWOT Analysis Of Reebok analyzes the brand based on its strengths weak points, weaknesses, opportunities, and threats. With Reebok SWOT Analysis it is clear that the advantages and disadvantages are internal factors, while threats and opportunities are external elements. Here we are going to talk about Reebok SWOT Analysis. Below Is The Detailed SWOT Analysis Of Reebok.
Reebok Strengths – Reebok SWOT Analysis
1. Segment: Reebok is a specific segment that it sells it merchandise. In a broad sense, Reebok sells shoes and other accessories for sportspeople or fitness enthusiasts. But inside Reebok’s product assortment, they offer distinct product ranges that cater to particular sporting requirements that are targeted at particular niches within the respective categories.
2. Features-rich products: Reebok products are known for their design and features. Every type of footwear produced by Reebok includes features that fit their needs or benefits and has always been a major selling point of the brand. For instance, their sports shoes CrossFit is created to give the best running experience for athletes , whether they’re first-timers or experienced pros.
3. Multichannel distribution strategy: Reebok sells their products through a variety of distribution channels. Starting from their own stores that are independent to well-known retailers, and online shopping sites such as Amazon and their personal site Reebok is a multi-channel retailer. This makes it easy for customers to shop at
4. High engagement with customers: Reebok has made use of social media to connect with over 35 million of its customers as an effort to give a increase to increase customer engagement. For instance, Reebok identified a huge opportunity in combat-training shoes , and has tapped the platforms of Facebook as well as Instagram in order to better understand the needs of their targeted group , or to create forums in which they can discuss their issues or seek advice from experts. The similar strategy is also used in different niches.
5. The HTML0 code is used by celebrities: Reebok endorses some of the most famous sportspersons across the globe. Their endorsers include Floyd Mayweather Jr, Shawn Kemp or Allen Iverson. Recently, Reebok has also included rappers and musicians as endorsers. Some well-known names that fall under this category include Jay Z, Alicia Keys Swiss Beats, Jay Z, or TYGA.
6. Cool image: Reebok quickly realized that the millennials as Gen Y and Gen X were seeking the cool factor in their sporting apparel. To incorporate this, Reebok has brought on Chris Kwiatkowski, a graphic designer from their Sports Licensed Division, and designers Peter Quagge and Chuck Gates into their mainstream decision-making. This has not only transformed their merchandise, but also enhanced the store atmosphere.
Reebok Weaknesses – Reebok SWOT Analysis
1. Insane commercialization: The sportswear segment is so competitive that companies are trying to market their own interests. The result is that brands like Reebok that were once thought to be top-quality are now being compared to regional or local brands that are catering to consumers in the large market. This erodes the image of the brand.
2. Lack of knowledge: Though Reebok has a number of products that are designed to meet the needs of specific sports of its customers, it has not been able to succeed in making its customers aware of the brand, leading to that Reebok has mostly been synonymous with sneakers.
Reebok Opportunities – Reebok SWOT Analysis
1. A look at the newest marketplaces: Reebok which was once the market leader in sportswear, has lost its position to the arch-rival Nike. But the company has big plans to improve its image by expanding into new categories like ethnic styles, women’s specific footwear for kids and sportswear.
2. Niche categories: In fitness today there are a variety of specialties like dancing shoes, combat shoes aerobics shoes, or shoes for training. Although Reebok is present in all of these categories customers must be informed more about why these particular requirements are required to be met. This will lead to the expansion of these sectors.
Reebok Threats – Reebok SWOT Analysis
1. Competition: The principal competition for Reebok comprise Nike, Adidas, Converse, New Balance and Puma.
2. The Steals: Designer sporting brands such as Nike and Reebok are also in danger by imitations of low quality that are offered at bargain price. Consumers who are on search for just the look and aren’t particularly interested in particular features typically opt for these fakes for a bargain price.
Reebok SWOT Analysis Overview Template
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