Reebok International Ltd. has been unquestionably one of the juggernauts in the athletic footwear department behind Nike and Adidas for quite some time now. This prestigious shoe company was founded back in 1895, in Bolton, Lancashire by Joseph William Foster. Reebok was formally known as Mercury Sports before it established itself into Reebok International in 1960. The name Reebok came from a certain type of African antelope. By the year 1979, a man by the name of Paul B. Fireman bought out the North American distribution license from Reebok. This enabled Fireman to market several running shoes in the United States. These shoes in particular became the most expensive on the market at $60 a pair. Sales increased slowly, but at $1.3 million by 1981, Reebok had outgrown its production capacity resulting in need of finance for expansion purposes.
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