The Downfall of Rockport: A Tale of Struggling Retail

Rockport‘s history dates back to 1971 when it was founded by father and son duo Saul and Bruce Katz in Massachusetts. Over the years, the company changed hands several times, being acquired by Reebok in the 1980s, Adidas in 2005, and later by a joint venture of Berkshire Hathaway and New Balance in 2015.

However, the separation from Adidas proved to be costly and complex, causing the business to lose its financial footing.

In 2017, the joint venture gave its interest in Rockport to a group of secured lenders, and after the 2018 bankruptcy sale, Rockport restructured itself by expanding its casual product offerings, trying to attract younger customers, and simplifying its business model.

Despite these efforts, Rockport’s business still struggled with high overhead costs and weakened demand for its core products due to the COVID-19 pandemic. In 2020, the company’s revenue fell to $162 million from $275 million in 2019…