cheapbag214s
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 Posted: Sun 12:47, 25 Aug 2013 Post subject: Z's Endorsement Deal |
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Z's Endorsement Deal,[link widoczny dla zalogowanych]
According to NPD Group, the industry grew by 2.6% in 2003 with the majority of growth in consumers aged 18 to 29. With the release of Reebok's (nyse: RBK - news - people ) S. Carter by the Rbk line, Jay-Z, whose birth name is Shawn Carter,[link widoczny dla zalogowanych], joined the ranks of sports luminaries like Michael Jordan,[link widoczny dla zalogowanych], LeBron James and Stephon Marbury to have his own line of sneakers.
The price of such deals has soared since Michael Jordan signed with Nike in 1984 to the tune of $2,[link widoczny dla zalogowanych].5 million over five years,[link widoczny dla zalogowanych].
In 2003,[link widoczny dla zalogowanych], Cleveland Cavalier rookie LeBron James signed a seven-year endorsement deal with Nike worth an estimated $90 million (see: "Slam Dunk"). With prices like these, some athletic shoe companies have changed the way they dole out their endorsement dollars. Fewer athletes are being courted to put their name on a shoe. Instead,[link widoczny dla zalogowanych], athletes are now signed to endorsement deals to promote someone else's shoe.
Jay-Z's deal comes at a time when hip-hop is rapidly gaining mainstream cultural acceptance. Todd Krinsky,[link widoczny dla zalogowanych], vice president of the Rbk division of Reebok,[link widoczny dla zalogowanych], says Jay-Z,[link widoczny dla zalogowanych], who has a small stake in the New Jersey Nets NBA team, was signed because he is "an icon in sports and an icon in music" and "has a huge passion for basketball."
The biggest distinction between deals with athletes versus hip-hop artists is that these deals extend only to the artists' feet,[link widoczny dla zalogowanych], allowing them to wear other clothing labels - an important distinction as many hip-hop artists have their own fashion lines.
The success of the S. Carter line has led to further endorsement deals with hip-hop stars for Reebok, which needs to improve its image with consumers between the ages of 13 and 29. In this age group,[link widoczny dla zalogowanych], Reebok ranks fourth in consumer dollar spending,[link widoczny dla zalogowanych], behind Nike (nyse: NKE - news - people ),[link widoczny dla zalogowanych], Adidas and New Balance,[link widoczny dla zalogowanych], according to the NPD Group.
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