Thursday, May 19, 2011

A Title for LeBron May Mean $4 Billion For Nike in China

Interesting are a couple quotes I found interesting:

"LeBron James’s first National Basketball Association championship would help add $4 billion in revenue from China for Nike Inc. (NKE)"

"James earns about $30 million annually from endorsements with companies that include Nike, which counts China as its second-largest market behind the U.S.; McDonald’s Corp. (MCD), the world’s largest restaurant chain; and Coca-Cola Co. (KO), the world’s largest soft-drink maker"

"The NBA said last month that James had the league’s best- selling jersey for the first time since 2004, topping Bryant, based on sales on"

"For James, simply winning a title isn’t enough, says Phil de Picciotto, president of athletes and personalities at the sports marketing firm Octagon, which represents swimmer Michael Phelps, whose eight gold medals at the Beijing Olympics made him a superstar in China.
How James goes about winning matters, too, de Picciotto said in a telephone interview.
It’s imperative for James, who said he was “taking my talents to South Beach” during the ESPN special, to come across as humble and give credit to others.
“He can use it as a platform to change the public opinion,” de Picciotto said. “It may well be that China will open up much more broadly to him if he wins a championship.”

Full article here: A Title for LeBron May Mean $4 Billion For Nike in China - Bloomberg

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