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PratapDarpan > Blog > World News > Shake’s $40 million gamble: One complaint made affordable shoes available to millions
World News

Shake’s $40 million gamble: One complaint made affordable shoes available to millions

PratapDarpan
Last updated: 24 December 2024 10:31
PratapDarpan
6 months ago
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Shake’s  million gamble: One complaint made affordable shoes available to millions
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Shake’s $40 million gamble: One complaint made affordable shoes available to millions

At a pivotal moment, in 1998, then-Magic basketball superstar Shaquille O’Neal made a game-changing decision when a woman asked him about the exorbitant prices of his shoes. The woman was the mother of a teenager, and due to Shaquille O’Neal’s stardom, the shoes he endorsed were in high demand by children. She questioned him about why athletes charge so much for sneakers, making them unaffordable for many families. The superstar took his words to heart and decided to drop a big deal with the sportswear giant and create affordable options for families.

How did Shaquille O’Neal start his own shoe brand?

according to sports rush, In 1998, during an appearance on the Full Send Podcast, the 2-time former scoring title winner recalled a memorable conversation he had with a mother in 1998. Leaving the Orlando Magic arena, she was complaining to Shaq about the high prices of shoes. Feeling guilty, the then magical young man offered the woman all the money in his wallet.

“I’m leaving the arena one day, and this woman is building a new arena for me,” O’Neal said on the Full Send podcast. “‘You’re charging these kids all this money for shoes.’ I had $2,000 in my pocket, and I said, ‘Ma’am, I don’t set prices.’

From that day on, Shake broke ties with Reebok and teamed up with Walmart to produce its own shoes and sell them in the $15-$30 range.

What’s more, Shake, who was 26 at the time, opened his wallet and gave his mother $2,000. He also decided to take his talents to Walmart to create his own affordable shoes. He also broke a $40 million shoe deal with Reebok.

“That day, I broke ties with Reebok,” he said on the podcast, according to Footwear News. “I said keep the money…that’s not right. I’ll still wear the same shoes I wear during the season, but I want to do my own thing. So, I started the Shake brand. I went to my Favorite store at Walmart, and we made a deal.”

To combine style with affordability, Shaquille O’Neal employed Reebok designers to create high-quality, fashionable shoes. The initiative led to sales of over 400 million pairs, offering a budget-friendly option for families across the country and demonstrating Shake’s dedication to giving back through its business endeavors.

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