Kobe Bryant has started to transition away from the game of basketball, and I think he’ll be just as successful off the court as he’s been on it.
Bryant, has set up Kobe Inc, so he could “own and grow brands and ideas that challenge and redefine the sports industry while inspiring the world,” says the Los Angeles Lakers’ guard.
Forbes is reporting that Bryant’s first investment for Kobe Inc. is in emerging sports drink BodyArmor.
Bryant categorized his investment as “substantial” and says, “I put my skin in the game.” Bryant sit on the board of directors and own more than 10% of the company, according to one source familiar with the negotiations. His investment makes him the third biggest shareholder behind co-founders Mike Repole and Lance Collins. Bryant’s investment is expected to be in the $4-6 million range. “The model has always been for entertainers to get sweat equity, but I wanted to progress beyond that,” says Bryant.
BodyArmour launched in 2011 and has reportedly generated $10 million in revenue over the past 12 months with sales more than doubling each of the past two years.
It boasts two and a half times the electrolytes of traditional sports drinks, has coconut water and is low in sodium. BODYARMOR has Mike Trout, Buster Posey, Andrew Luck and Rob Gronkowski in its endorsement lineup.