This is part of our "Last Week Today" series that includes a weekly roundup of the past week's most exciting and industry-altering news. Check back on our blog every week for updates! These stories cover sponsorship news for April 12 – April 18, 2021.
Cashing In on the Masters Win
On top of his annual endorsements of approximately $9 million, Hideki Matsuyama’s win at Augusta National could add another billion in endorsement money for the first Japanese male to win a major. Now the undisputed face of golf in his home country, Matsuyama should expect to be at the forefront of PGA TOUR efforts to continue growing the game in Asia. The fun is just beginning for Hideki as he is also expected to have a presence during the opening ceremony at the Olympics this summer in Tokyo.
Just Do It…Differently
As Gen Z continues to increase its market share and buying power, Nike is looking to reexamine how they shape messaging and marketing to young women via social media. The ‘Nothing but Gold’ campaign (currently in beta) will focus on style and self-care, as well as highlight women within Nike and sports in general. Considering that Nike’s women category reached over $7 billion in sales in 2019, it is no surprise that the Beaverton-based company would continue to experiment with ways to get in front of the next generation of consumers.
DSG Goes BIG
After a year where an estimated $1.7 trillion was saved due to consumers being stuck at home, Dick’s Sporting Goods is bullish on the future demand for experiences within their brick and mortar stores. So much so, that their newly opened ‘House of Sport’ in western New York includes a driving range, rock-climbing wall, and full track-and-field within the sprawling 100,000 square foot facility. It remains to be seen which of these experiential options will stick long-term (and be implemented at other current stores), but that is not holding the company back on this concept as the second ‘House of Sport’ opens in Knoxville, Tennessee this May.
Racing Waves the ‘Green’ Flag
Lead by the electric vehicle race series, Formula E, racing continues to push for an eco-friendlier sport and new sponsors are taking notice. Through initiatives around electric motors, biodiesel, and oil recycling, various racing tours are seeing more synergy with environmentally friendly companies for potential sponsorships. As all automotive companies increase the production of electronic vehicles for retail sale, many have already put together Formula E racing teams to highlight their new technology.
Be on the lookout next week for the usual round-up of sponsorship news.