Does Activewear need another brand? So they think Derek Jeter, Wayne Gretzky and Misty Copeland.
On Tuesday, the former professional baseball player, Canadian hockey player and American ballet dancer will launch Greatness Wins, a new sportswear brand, along with Chris Riccobono, co-founder of menswear brand Untuckit.
Products include $69 basketball shorts and $99 performance joggers. The label will launch online and Riccobono said it will likely open a store or two within the next year and a half and is also open to wholesale partnerships.
Greatness Wins is launching into a market with huge opportunities: The global sportswear industry hit $384 billion last year, according to McKinsey & Company, and is expected to grow 8 to 10 percent a year.
The fitness apparel space has also exploded in the last two years, with giants like Lululemon hitting record sales and dozens of startups finding new customers simply by working out. But while some brands have focused on athleisure, a growing casual wear category suitable for both fitness and everyday life, others, like Greatness Wins, are developing clothing made specifically for sports.
“We are going to bring the best-performing product to market, it will be rigorously tested and will consistently meet specifications,” said Riccobono, who is still at Untuckit and is also now CEO of Greatness Wins.
Athletes have endless options, especially from giants like Nike, Under Armor, and Adidas. Jeter, who had a 10-year, $100 million contract with Nike before it ended, told BoF that he sees an opportunity in developing a brand that focuses on size and quality.
“One of the things I’ve learned throughout my career is how important consistency is,” Jeter said. “Consumers want to know that when they order something, it will be the same fit, every time, and when you wash your clothes, it’s the same after washing. We are committed to quality”.
Riccobono first became linked with Gretzky, who is helping the brand develop its golf apparel, when the NHL star and former head coach invested in Untuckit in 2018. Industry friends helped connect Riccobono with Jeter, who told The BoF that he agreed to work with Riccobono because of Untuckit’s success in menswear (Untuckit is now a $300 million business). Jeter then recommended the brand bring in Copeland, who will launch the brand’s products for women this spring.
Riccobono said all four co-founders own the brand, but declined to share ownership percentage or how much money the brand has raised.
Jeter, who resigned as CEO of the Miami Marlins baseball team in February, said he decided to be closely involved in the brand’s design and development process. He’s following a similar path as athletes like the NBA’s Russell Westbrook and Olympic track runner Allyson Felix, who are forgoing the old celebrity playbook of licensed deals with established fashion brands and instead running their own. brands.
“I just didn’t want to put my name on a product and say, ‘hey, go buy this product,'” Jeter said. “I wanted to be a part of the development process and… sit down and be a part of the marketing campaigns and make decisions.”
Greatness Wins also hits the market with a timely release for Jeter. A documentary about the legendary baseball player, “The Captain,” from ESPN Films, debuts July 18, and the Hall of Famer has conducted several interviews for the film in Greatness Wins gear. Jeter also joined Instagram in May, where he’s helping promote the brand (Gretzky and Copeland are also promoting the brand on social media).
Riccobono acknowledged that Greatness Wins, which plans to launch footwear next, faces crowded market competition. He said the appeal of athletes like Jeter, Copeland and Gretzky as co-founders will give the brand credibility. That these famous athletes represent a wide range of sports is also part of the equation; Greatness Wins will have a broader focus on fitness than other sportswear startups that focus on specific sports like pickleball or rugby.
The label will also focus on producing a smaller assortment of products.
“The big sports brands have…800 shorts, but you don’t need 100,000 products,” Riccobono said. “We will be educating about what product you use for what activity.”
Source: www.businessoffashion.com