Join us on the Sports Philanthropy Podcast as host Roy Kessel speaks with Joe Foster, the Co-Founder of Reebok. In this seventh episode of the podcast’s seventh season, Roy and Joe discuss taking risks, the challenges Joe faced on his way to success, and how he pushed forward despite those obstacles.
Joe Foster
Joe Foster was born in 1935 in Bolton England with the same birthday 18th May, as his grandfather, also Joseph William Foster who had died 18 months earlier. Joe’s grandfather was the founder of J W Foster & Sons (Athletic Shoes) Ltd and the inventor of the Spiked Running Shoe and the Trainer (Sneaker).
In 1943, at the age of 8, Joe won an American Websters dictionary in an 80 yards sprint race in his home town of Bolton. This was the dictionary where Joe was to find the word REEBOK, in 1960.
Joe and his late brother Jeff were born into the J W Foster & family business, but on their return after 2 years away from home on National Service, they asked questions. The year was 1955 and the brothers saw a business still rooted in the 1930’s.
Their Father and Uncle operated the business but spent more time feuding than collaborating. The result was that in 1958, Joe and Jeff left the Foster business to set up a new sports shoe company.
The brothers founded Mercury Sports Footwear, which after 18 months they changed its name to REEBOK. Joe had been advised to protect their company’s name by registering it. Finding the word Mercury was registered by another company started the search for a new name and one source was Joe’s Webster’s dictionary. Leafing through for inspiration, Joe came across REEBOK, a small South African Gazelle. Sounded just right and was available for registration.
The Reebok business developed with Jeff looking after production, while Joe was responsible for sales and marketing. Joe designed what is now the classic silhouette, outsole and Starcrest. Initially, Joe travelled many miles introducing Reebok’s offering to sports retailers up an down the country.
By 1965, Joe was on his way to the NSGA (National Sporting Goods of America) Show in Chicago, which was the start of many global adventures and experiences that after 15 years brought him together with Paul Fireman and later many stars of film and television.
Reebok
Reebok International Ltd., headquartered in Boston, MA, USA, is a leading worldwide designer, marketer and distributor of fitness and lifestyle footwear, apparel and equipment. An American-inspired global brand, Reebok is a pioneer in the sporting goods industry with a rich and storied fitness heritage. Reebok develops products, technologies and programming which enable movement and is committed to accompanying people on their journey to fulfill their potential. Reebok connects with the fitness consumer wherever they are and however they choose to stay fit – whether it’s functional training, running, combat training, walking, dance, yoga or aerobics. Reebok Classics leverages the brand’s fitness heritage and represents the roots of the brand in the sports lifestyle market. A subsidiary of Adidas, Reebok is the exclusive outfitter of CrossFit and the CrossFit Games; the exclusive authentic global outfitter of UFC; the title sponsor of the Reebok Ragnar Relay series; and exclusive apparel provider for Les Mills.
0:43 – Joe’s biggest obstacle that he had to overcome in establishing Reebok
0:58 – The market segment Reebok chased that led them to #1
1:34 – The biggest risk Joe took in establishing Reebok
2:02 – How to deal with the risks
2:49 – What if Joe had never started Reebok?
4:03 – What was the “all hope is lost” moment for Joe and Reebok?
5:07 – The second darkest moment for Reebok
7:23 – Joe’s genius sales strategy to clear out their stock
9:16 – What did Joe learn from these problems?
10:14 – How did Joe develop the resilience to keep pushing forward despite these setbacks?
12:58 – What causes is Joe most passionate about?
13:54 – What would Joe like to be his legacy moving forward?
