Joe Foster. How the Reebok Founder Built a Business Empire. Episode 324 with The Real Brad Lea (TRBL)
Dropping Bombs
Brad Lea
4.9 • 2.3K Ratings
🗓️ 3 December 2020
⏱️ 42 minutes
🧾️ Download transcript
Summary
In 1943 at the age of 8, Joe won an American Webster's dictionary in an 80 yards sprint race in his hometown of Bolton. This was the dictionary where Joe was to find the word Reebok (the American spelling), in 1960. If he had won an English Dictionary, he would have found the word spelled, Rhebok. 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 about the future. The year was 1955 and the brothers saw a business still rooted in the 1930s. Their father and uncle were now operating the business and very much like another sport shoe company (Adidas), spent more time feuding than collaborating. The result was that in 1958 Joe and Jeff left the Foster business to set up their own business. Six miles down the road in the next town, Bury, 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 grey rhebok, a small South African antelope, this sounded just right and was free to register. The Reebok business developed with Jeff looking after production, Joe took charge of the sales and marketing side, as well as design which included the classic silhouette, outsole, and the Starcrest.
In this episode, Brad identifies how Joe Foster very well may have invented "Influencer Marketing" back in 1982 and leveraged it to Billions, building a global brand in Reebok that he eventually exited some 10 years ago. Now spending time in France awaiting a trip back to his home country of the U.K. Joe Foster is still smart as a whip and knows what it takes to help products sell at scale.
Transcript
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| 0:00.0 | Listen up, or run, for cover. |
| 0:04.7 | I love it, now it's from the people who have asked you the people who need the real |
| 0:13.1 | brother. |
| 0:14.1 | Bradley is dropping. |
| 0:24.0 | What it is Bradley back in the house folks and today do I got a real treat for you |
| 0:29.8 | as you know I'm always bringing you people that have been places done things and or learned |
| 0:35.4 | the hard way. |
| 0:37.2 | Various things that got them past challenges and objections and today is no different except |
| 0:41.8 | for it's the most unbelievable guest I think you're ever going to want to talk to. |
| 0:47.5 | His name is Joe Foster. |
| 0:48.9 | You may not have heard of him. |
| 0:49.9 | I didn't hear of him, but when you hear of what he built then you'll know exactly who |
| 0:54.2 | he is and that is the company Reebok. |
| 0:58.9 | Welcome Mr. Foster. |
| 0:59.9 | Thank you, Brett. |
| 1:00.9 | Thank you for the invitation. |
| 1:02.9 | Man, dude, I can't even believe I get to talk to you. |
| 1:06.6 | Reebok is a worldwide brand. |
| 1:08.1 | Worldwide company. |
| 1:09.1 | You came out with a book called Shoemaker. |
| 1:11.2 | It's sitting behind you on your right shoulder. |
| 1:13.5 | If you guys haven't already got his book I would highly suggest you go and get it right |
... |
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