Reebok Restructures Operations with Job Cuts and Strategic Shifts
Dec/11/2024
Reebok is trimming its workforce as part of a strategic pivot to focus on its apparel business, according to Sparc, the joint venture managing the brand’s U.S. operations. Sparc, which includes Authentic, Simon Property Group, and Shein, is transferring certain footwear licenses to other partners, resulting in layoffs to address redundancy and scaling challenges. While the company declined to specify the number of job cuts, this marks another phase of restructuring since Reebok’s acquisition by Authentic in 2021. Under new ownership, the brand has seen rapid growth, surpassing $5 billion in revenue with plans to double that figure within three years. Authentic has revitalized Reebok, deepening retail partnerships and emphasizing its basketball roots, including appointing Shaquille O’Neal as president of its basketball division and launching collections with athletes like WNBA star Angel Reese. The following chart highlights the Most Well-Known Sportswear Brands in the United States 2024 compared with the Most Well-Known Sneakers Brands in the United States 2024, illustrating Reebok’s positioning in a competitive market.
