Sequential Brands (NASDAQ:SQBG) is seeing a massive increase in its stock on Thursday following news of a collaboration with Reebok.
According to a Sequential Brands news release, this team-up has the two companies releasing Reebok shoes that come equipped with Heely’s. That means they can operate as normal sneakers, but can also switch to skates by leaning back on the heels.
The Reebok x Heely collaboration is available for purchase now. Customers can pick them up via Heely’s website or from retailers around the world. The new shoes come out now so they will be available ahead of the holidays.
The Sequential Brands news release notes that the new crossover has Heely’s offering shoes in 10 Rebook styles. The shoes will range in sizes 13 through eight for kids and nine through 13 for men. They start between $55 and $60 per pair.
Arta Isovski, senior vice president of Sequential Brands’s Lifestyle Division, said the following about the news.
“We are so excited to be teaming up with a global, timeless brand like Reebok. Reebok was born from sport, and Heelys from adventure. Together we make a shoe that’s ready to take on the world. We are especially proud to offer this collection in adult sizes, as many of our consumers grew up with both of these brands. Now they get to experience the merging of the two worlds to create one awesome collection.”
SQBG stock was up 98.4% as of Thursday morning.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.