His investment has returned more than 30 times in just four years
By Klyde Manansala | Art by Marian Hukom
Los Angeles Lakers legend Kobe Bryant has always been commended for his outstanding basketball intelligence, but his business acumen is just as impressive.
Four years ago, Bryant invested roughly $6 million in BodyArmor, a sports drink in line with competing against the likes of Gatorade and Powerade. Today, after his first investment for roughly 10 percent of the company in March 2014, the Black Mamba’s ventures has paid off and ballooned to approximately $200 million based on ESPN‘s report.
“If you don’t have the marketing dollars that the big guys do, what’s the best way to market your product all the time? Get a major celebrity to be a part of your product,” Duane Stanford, executive editor of trade publication Beverage Digest, said to the Washington Post
And it continues to grow: just last week, Coca-Cola had purchased a minority stake in the sports drink company, which is a huge deal given that it will fold into Coke’s distribution network.
“If you don’t have the marketing dollars that the big guys do, what’s the best way to market your product all the time? Get a major celebrity to be a part of your product,” Duane Stanford, executive editor of trade publication Beverage Digest, said to the Washington Post.
BodyArmor began its voyage in 2011 presenting itself as a natural sports drink with filtered water, cane sugar, and coconut water concentration as its distinctive ingredients.
Today, BodyArmor is marketed as the newest competitor of Gatorade, with celebrities like Kobe Bryant and probable investors in James Harden, Dustin Johnson, and football star Andrew Luck headlining in their promotions.
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