NBA legend Shaquille O’Neal is well-known for his accomplishments on the basketball court. However, O’Neal’s impact and achievements outside of his professional basketball career have been equally noteworthy.
While being a successful businessman with a vast portfolio of investments, Shaquille O’Neal is also someone who is in tune with the needs of the masses. During a recent appearance on “expediTIously with Tip T.I. Harris,” O’Neal recalled the story of how he walked away from a $40 million shoe deal with Reebok to start his own shoe brand.
“Jeff Bezos said if you invest in things, it’s going to change people’s lives. It’s a win-win-win,” O’Neal started. “So the first two things I did, I’m coming out of the arena one day, and this beautiful sister is dragging her son, and she goes, ‘You motherf***er. I’m tired of you, motherf***er. Charging all our babies for these motherf***ing high-priced, terrible a** shoes.'”
“You know, I’m not going to disrespect no sister. I was like, ‘Ma’am, I don’t make the prices,'” he continued. “I was young when I first got my Reebok deal. They offered me $40 million. I’m not turning that down for nobody. You got $40 million, you got creative control. It’s your own shoe. But I didn’t understand price points.”
Although Shaquille O’Neal was well within his rights to pursue the money from the Reebok deal, he admitted that the lady’s statement struck him deeply, reminding him of his own experiences. This led to a significant change of heart, as he shared:
“I called Reebok, and I said, ‘I’m going to finish out the last year of my deal, and I’m going to start my own brand. The Shaq brand.'”
Needless to say, this was an extremely courageous move on O’Neal’s part, who was only 26 years old at the time of launch.
In a partnership with Walmart in 1998, the Shaq brand of shoes hit retail stores, selling at an affordable price point of $29-$39. Since then, O’Neal claims that he sold 600 million pairs of shoes, positioning his brand as an affordable footwear option for many.
The biggest argument related to the Shaq brand of shoes has been about the quality. To this, O’Neal confidently responds by stating that people don’t want to wear a shoe that looks like it’s easily affordable. In an extreme gesture, the NBA legend even contacted his factory in China during a podcast to prove that his shoes use the same brand of leather as other footwear giants, emphasizing his commitment to quality.
O’Neal’s way of giving back to the community is certainly noteworthy. While the big man is typically known for his larger-than-life image, the philanthropic and community-driven aspect of his personality certainly portrays him in a new light.
While the Shaq brand remains an active player in the market, O’Neal has stepped away from the brand, allowing his son, Shareef O’Neal, to take over the operations of the company. With his son at the helm, it will be intriguing to see what the next generation has to offer in terms of innovation.
