Medal-Winning U.S. Fencer Ibtihaj Muhammad Taking Advantage Of Growing Celebrity
Several companies are "poised to take advantage" of Bronze Medal-winning U.S. fencer Ibtihaj Muhammad's "growing celebrity" following the Rio Games, according to Daniel Miller of the L.A. TIMES. Wasserman Senior VP/Action Sports & Olympics Lindsay Kagawa Colas, who reps Muhammad, said that an arrangement for Muhammad to make appearances in Rio during the Olympics on behalf of Samsung was "finalized with the company while the fencer was there." Muhammad was "featured in TV commercials for Visa and Mini that have aired during" the Games, and Colas has seen her work "pitching Muhammad -- and the potential for her story as a black Muslim Olympian to 'transcend sports'" pay off. Colas said, "We thought there would be brands that would be looking for that, and I think that we were right" (L.A. TIMES, 8/20).
ONLY A SELECT FEW CASH IN: IEG Senior VP/Marketing Jim Andrews said that Michael Phelps and Usain Bolt "already earn millions annually in endorsements," while U.S. Gold Medal-winning gymnast Simone Biles will "likely join the millionaire marketing club." In Chicago, Robert Channick wrote for the other athletes, everything from the sport to their personal back story will "play into their marketing value, with a small window of opportunity to capitalize before football season and the World Series reduce" the Rio Games to a "fuzzy memory" (CHICAGO TRIBUNE, 8/20).
DO ENDORSEMENTS MATTER? Phelps, an Under Armour endorser, appeared on the cover of last week's SI with a Nike logo on his pants, and in Chicago, Phil Rosenthal wrote UA does "not sponsor Phelps out of charity." Nike also does "not sink millions into Team USA out of civic duty." But what Phelps "wears doesn't matter." There is "obviously a return on investment for the sponsors or the money ... would dry up." Northwestern Univ. professor Craig Garthwaite said, "Endorsements do work ... though there are limits on it. But the psychology of it? As an economist, I'm as baffled as you are" (CHICAGO TRIBUNE, 8/20).
