A crowd gathered exterior a spacious showroom on Paris’ stylish Rue de Turenne Tuesday afternoon, anxious to see the newest assortment by Honor the Present, a rising Los Angeles-based model. The founder isn’t a seasoned trend faculty grad, like others exhibiting at Paris Style Week, however NBA veteran Russell Westbrook.
The nine-time NBA All-Star was on the town to current his spring 2023 assortment, “impressed by the workwear of the Black working [class] in 1800s America,” Westbrook informed BoF. The providing consists of overalls, denim dungarees and collared overcoats, in addition to extra fundamental items, in orange, cream and darkish gray colourways.
Westbrook is one in every of a rising variety of athletes who’re efficiently scaling their trend companies in recent times, with choices that go far past branded sports activities jerseys and T-shirts. Others embrace English footballer Raheem Sterling’s minimalist menswear model, Sixteen Ninety Two; Stunning Struggles, the streetwear label created by ex-footballer Danny Williams; Re-Inc, a gender-fluid clothes model based by 4 US soccer gamers; and Saysh, a footwear and athleisure label co-founded by Olympian monitor runner Allyson Felix.
In fact, athletes have lengthy taken on entrepreneurship as their careers superior, together with Serena Williams and David Beckham (to not point out René Lacoste, the French tennis star who based his model in 1927). However the urge for food for celebrity-backed ventures is greater than ever, and the likes of Westbrook and Felix can wield main followings on social media.
Excessive-profile athletes historically favoured profitable licensing offers with established trend manufacturers — usually marketed as collaborations — through which retailers like Nike and Adidas use an athlete’s title, picture or likeness to promote a pre-produced line of clothes or gear. Lewis Hamilton’s ongoing cope with Tommy Hilfiger, for instance, options T-shirts, jackets and footwear bearing Hamilton’s initials.
At this time’s new athlete-backed manufacturers run counter to this system. Labels like Westbrook’s Honor the Present are full-line trend corporations, producing seasonal collections with out utilizing their founders’ names on a brand to draw followers. Athlete founders like Westbrook leverage their sizeable viewers on Instagram to unfold the phrase about their new ventures earlier than branching out and focusing on a wider viewers.
It’s a brand new class of attire startups that’s gaining investor curiosity too, as enterprise capital corporations and huge strategic retailers alike see potential in celebrity-backed e-commerce manufacturers with a social impression angle. Final week, Saysh closed an $8 million Sequence A funding spherical led by Hole Inc. Re-Inc acquired funding from Silicon Valley enterprise capital agency Kleiner Perkins in 2020.
Observe the Cash
Save for a choose few exceptions — Roger Federer’s $300 million sponsorship cope with Uniqlo, as an illustration — most athletes’ profitable licensing or partnership offers solely run till the top of their skilled careers.
A thriving standalone enterprise, alternatively, can generate income for years to come back and lead to a hefty payout when it’s bought. However constructing a model is a tough endeavour. To drive gross sales and model consciousness, athlete-backed trend strains should appeal to customers from exterior their most loyal sports activities followers, who would purchase their clothes on benefit, in response to Safraz Ali, a sports activities and tradition communications specialist at Roc Nation, a expertise company based by Jay-Z.
Essentially the most profitable athlete-owned manufacturers are those that you just come throughout with out even understanding there’s a sports activities star behind it.
Athlete-backed manufacturers face the identical hurdles as any trend upstart at this time, together with the rising value of promoting on-line and garnering buyer loyalty in a saturated market. However they will additionally take a web page out of the DTC playbook for fulfillment; constructing sturdy management and focussing on social impression are core elements of labels like Honor the Present and Saysh.
“It’s very simple to see when an athlete has little to do with the label they supposedly created, however have been informed to make use of their title to put it up for sale,” Ali mentioned. “Essentially the most profitable athlete-owned manufacturers are those that you just come throughout with out even understanding there’s a sports activities star behind it.”
A Extra Fingers-on Method
In 2015, Russell Westbrook partnered with high-end retailer Barneys to construct a trend line referred to as Russell Westbrook XO, below which he co-designed clothes and accessories with established labels, together with Public College and Nike’s Jordan model.
The expertise was a invaluable segue into the world of design, Westbrook mentioned, however he now relishes working his personal label with full artistic and monetary freedom, permitting him to have the ultimate say on ideas and design — that’s, when he’s not enjoying for the LA Lakers.
“I do all the pieces from curating temper boards to casting for shoots,” mentioned Westbrook, whose adventurous love of clothes has altered the best way through which basketball gamers and followers take into account the position of trend within the sport.
Final 12 months, Honor the Present posted $5 million in income and Westbrook expects it to develop 30 % year-on-year in 2022. The model is targeted on regular development and “partnering with a decent checklist of high-end retailers and boutiques, to ensure it exhibits up in solely the fitting locations,” mentioned gross sales director Chris Josol. The most recent assortment is carried by greater than 13 retailers worldwide, together with Selfridges within the UK, Saks Fifth Avenue and Nordstrom in America.
Different athletes, like British former footballer Recce Wabara, have discovered success by way of this entrepreneurial mannequin, too, controlling day-to-day decision-making throughout design, distribution and advertising and marketing.
Wabara retired from skilled soccer in 2013, at age 22, to launch his trend model, Manière de Voir. Spending lower than £16,000 ($19,400) from his personal financial savings, Wabara scaled Manière de Voir right into a worthwhile enterprise that at this time employs over 60 individuals, producing £33 million ($40.1 million) in income final 12 months, with no exterior traders.
“I’m nonetheless throughout each side of the model,” Wabara mentioned. “I oversee logistics and operations and I’m throughout each product we promote, each advertising and marketing marketing campaign.”
Working a totally direct-to-consumer enterprise mannequin, Wabara expects income will develop to £50 million in 2022. To at the present time, he retains full possession of the model and presently has no plans to exit or search exterior funding.
“By working a DTC model, I’ve discovered that if you may make and promote clothes effectively, the margins are ok to by no means have to boost capital, until you’re attempting to open up shops,” he mentioned.
A Particular Social Objective
Some latest athlete-backed manufacturers have been in a position to domesticate a following primarily based on a novel social justice messaging. Allyson Felix left her sponsorship cope with Nike in 2019 after talking out in opposition to the retailer for paying her much less throughout her being pregnant. As a substitute, she launched her personal label, Saysh, in June 2021 together with her brother, Wes Felix — a model constructed on advocating for pregnant girls.
As an example, the corporate just lately introduced its “maternity returns coverage,” which permits clients to change their Saysh footwear for a better-fitting pair when their shoe measurement will increase throughout being pregnant.
It’s been in a position to appeal to social impression traders akin to Anne-Marie Slaughter, a gender and coverage specialist, and Sabia Wade, founding father of maternal assist fund The Black Doula.
Re-Inc, too, was created out of frustration. Its founders, Megan Rapinoe, Tobin Heath, Meghan Klingenberg and Christen Press, had been amongst 28 soccer gamers who sued their league to battle for equal pay as their male counterparts. Their vibrant loungewear line is usually adorned by slogans akin to “revolution’” and “queer, queer, queer.”
Earlier this 12 months, the US Soccer federation settled the lawsuit, awarding the athletes $24 million and vowing to equalise pay between the boys’s and ladies’s crew.