Reebok is undergoing job cuts as it pivots resources, a Sparc spokesperson confirmed to Retail Dive.
Sparc, the joint venture between Authentic, Simon Property Group and Shein that runs Reebok’s U.S. operations, is transferring certain Reebok licenses to other licensees and focusing on its apparel business. As a result, the workforce connected to Reebok’s footwear business has been reduced to tackle duplicate roles and address scaling needs. The company did not respond to questions about how many employees were laid off or in what divisions.
Reebok was acquired by Authentic in 2021, with the deal officially closing in 2022. The sportswear brand at that time laid off about 150 employees as part of a restructuring that would shift Reebok to a different operating model.
The brand has expanded greatly since its days under Adidas, when it was left largely to languish, with Authentic swiftly expanding Reebok’s distribution partners and building deeper relationships with retailers like Macy’s. Authentic CEO Jamie Salter at the start of the year said Reebok had already exceeded $5 billion in revenue and planned to hit $10 billion in the next three years. Prior to its sale by Adidas, Reebok in fiscal 2020 made $1.6 billion.
As it looks to regain some of its previous relevance, Reebok has leaned back into its roots, including placing a larger emphasis on the basketball category. Last fall, the retailer even named former NBA player Shaquille O’Neal as the president of its basketball division, trusting him to establish partnerships with athletes and other organizations in the sport. Reebok released its first collection with WNBA player Angel Reese earlier this year, after signing an endorsement deal with her last year.
