Last Week Today: May 10 – May 16, 2021 Sponsorship News
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 May 10 – May 16, 2021.
Power of the Suns for Fanatics
On top of what has already been a busy year for Fanatics, the company has recently added the NBA’s Phoenix Suns to their portfolio of over 300 partners in the world of sport. The online sports retail giant will handle all e-commerce for Suns merchandise at an opportune time with the team being one of the favorites going into this year’s NBA Playoffs. Along with the retail partnership, Fanatics will also collaborate with PayPal, the jersey sponsor of the Suns, for unique promotions.
Moolah Jumps into the Women’s Shoe Game
As women’s basketball, especially on the collegiate level, increases in viewership, various industries within basketball are looking at ways to continue leveling the playing field between the men and women’s game. One of the brands looking to do that on the shoe side of things is Moolah Kicks. Moolah studied the differences between male and female feet in order to develop a basketball shoe specifically made for women. While only launched in January 2020, initial investment interest through crowdfunding has shown there may be a market for this new sneaker brand.
A New Era Rises for The King
After 17 years with Coca-Cola, LeBron James has recently partnered up with PepsiCo to promote the Mtn Dew Rise energy drink. While the energy drink market is a crowded one, this partnership with James makes sense for Pepsi as they are already the official soft drink of the NBA. One should expect to see plenty of advertisements during the upcoming NBA Playoffs highlighting this new partnership. For James, the partnership adds to what is estimated to be $65 million in annual endorsements. It’s good to be king.
Reebok on the Block?
Athletic retail brand Reebok, which was purchased by Adidas in 2005, is back on sale with reported offers around $1 billion. As of now, Authentic Brands Group seems to be the biggest player in the potential acquisition process. If the deal with ABG goes through, Reebok would join a growing list of retails brands now under the ABG umbrella, including Volcom, Nine West, and Aeropostale to name a few. Reebok is not the major brand that they were in the past, but endorsement deals with athletes and celebrities like J.J. Watt and Cardi B have kept the brand relevant enough to warrant a billion-dollar asking price. For Adidas, the potential sale would help them reinvest into their core brand which is in the continual battle with Nike for market share.
Be on the lookout next week for the usual round-up of sponsorship news.