Power Balance Turns Focus To Sports Licensing Deals In Wake Of Legal Issues
Power Balance is "spending more aggressively on licensing deals and partnerships more associated with traditional sporting-goods companies," according to E.J. Schultz of AD AGE. The company has "licensing deals with Rawlings, which makes Power Balance-branded batting gloves and apparel," and TaylorMade, which "just released a Power Balance golf glove." The company also "recently struck a deal with the NBA that allows it to put team logos on bands." The "first wave will hit stores soon," and it will include the Lakers, Knicks, Bulls, Heat, Celtics, Magic and Kings. Power Balance also "lists 35 'product ambassadors' on its website, from pro baseball and football players to snowboarders and surfers." Schultz noted the company "plans to launch science-based sportswear products." Power Balance Senior VP/Corporate Development Brent Granado "declined to elaborate on the new products that are in the works, other than to say it will be 'performance technology' sportswear." The "change in tactics has been under way for a while at the Southern California company, which has downplayed its original claims that the fast-selling bands interact with the body's energy field to improve balance, strength and flexibility." Power Balance "seems to have no choice but to change its tactics," as "according to the initial terms of an agreement awaiting approval by a federal court in California, Power Balance is barred from advertising its products as improving 'balance, strength or flexibility' unless it can provide evidence." But Schultz wrote in the wake of the settlement, the company "appears poised to complete its transformation" (ADAGE.com, 4/13).