The company is roaring in the market on Heels and Reebok collaboration.
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Shares of Sequential Brands Group, Inc. (SQBG) are soaring at a rapid rate with today’s market opening. The stock suddenly made its move in the premarket on the announcement of Heelys collaborating with Reebok. Sequential Brands owns Heels which is a skate shoe manufacturing company.
Sequential Brands closed yesterday’s trading session at $5.70 before the stock began to escalate in the premarket today. SQBG kicked off the trading at $14.88 up by almost 170%.
As we write this at 9:59 A.M. EDT, SQBG was trading as high as $18 rising by 212%. The stock has added around +$12 to the shares price with this staggering push. The trading volume is also increasing as currently, it trades with a volume of just under 13 million.
Heelys which was founded in 2000 is owned by Sequential Brands Group, Inc. (SQBG). They are patented products that feature a removable wheel located in the heel that transforms them into the best stealth skate shoes providing users with the freedom to walk and run by shifting their weight on their heels. The company’s vision is to inspire kids and adults alike to express themselves with their skills and feel freedom and be fearless.
Heelys will introduce a new collection teaming up with Reebok, featuring ten signature Reebok styles, with the added Heelys’ wheel technology. The Senior Vice President of Sequential’s Lifestyle Division, Arta Isovski stated:
“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.”
This is the first time that Heelys has teamed up with another sneaker brand as they have recently been part of different collab projects. The Reebok styles with range in shapes, patterns, and colors and with Heelys technology it will make them go from a sneaker to a skate via shifting weight on to the heel.
The collab between Heelys and Reebok will bring ten skus with size ranges including Kids Size from 13 to 8, and Men’s Size from 9 to 13. The collection has already been launched ahead of the start of the holiday season as the customers can enjoy the new collection making them perfect for a gift for both kids and adults.
The sneaker x skate collection will be available for purchase from $55 to $60 on Heelys.com, and retailers in global markets.