Lululemon receives sneaker patent – Front Office Sports

Gonzaga was No. 1 in the polls from start to finish last season before losing a victory short of a national title and a perfect season. The Top 25 AP was released on Monday and the Zags are once again big favorites, winning 55 of 63 first place votes.

Lululemon / Design: Alex Brooks

Lululemon is set to launch a line of sneakers with the help of talent associated with the biggest names in sportswear.

The athleisure brand was granted a patent on October 12 for its future shoe brand, which will draw on designers who have previously worked for Nike, Under protection, and Adidas.

The company has announced a transition to footwear since at least 2019. Its branded shoes are expected to hit stores “in early 2022,” according to CEO Calvin McDonald.

  • Lululemon saw tremendous growth in the second quarter, retaining gains in online retail while seeing a big rebound for in-person retail.
  • The company posted $ 1.45 billion of second quarter revenue, up 61% year-on-year and 64% compared to the same period in 2019.
  • Lululemon aims to double its menswear revenue for $ 1.4 billion by 2023.

Lululemon has been offering shoes from APL since 2017. An April Piper-Sandler survey found that Lululemon was the ninth highest-rated shoe brand among teens, although it does not produce its own sneakers. Nike, Adidas and Under Armor took the top three places.

McDonald’s said on a December 2020 earnings call that the collaboration with APL shows strong potential for the company’s branded shoe sales.

Kiyoshi Mio-USA TODAY Sports / Design: Alex Brooks

NBA franchises have reached new heights, as Forbes revealed in its ranking of the league’s most valuable teams.

For the first time in NBA history, the league has three franchises worth more than $ 5 billion each.

  • New York Knicks – $ 5.8 billion
  • Golden State Warriors – $ 5.6 billion
  • Los Angeles Lakers – $ 5.5 billion

Despite a 2020-21 season with limited live attendance, the average value of an NBA franchise reaches $ 2.48 billion, a 13% increase since February.

The surge is a result of increased sponsorship and the potential of the league’s next crop of media rights deals.

IEG estimates that the NBA achieved a record $ 1.46 billion in sponsorship revenue last season and will likely exceed that figure in the 2021-2022 season, which begins on Tuesday.

The NBA aims $ 75 billion over nine years for its next round of broadcast deals, a significant jump from its current $ 24 billion deals with Disney and WarnerMedia. These agreements expire in 2025.

The Chicago Bulls ($ 3.65 billion) and Boston Celtics ($ 3.55 billion) round out the top five on the Forbes list.

Catherine Ong Partners / Design: Alex Brooks

Soccer superstar Cristiano Ronaldo is teaming up with billionaire Peter Lim in a venture that promises to create a holistic digital experience and marketplace around soccer.

The Manchester United star announced the launch of ZujuGP on Instagram, where he breaks a record 357 million followers.

The digital platform offers football products, gaming opportunities and social connections for fans. Fans can also watch matches live.

Lim, who has a net worth of $ 2.6 billion, creates ZujuGP with his son Kiat Lim. He made a large chunk of his fortune on a premonitory $ 10 million investment in palm oil company Wilmar in the 1990s, cashing in $ 1.5 billion in 2010.

  • Based in Singapore, ZujuGP will focus on the growing Asian football market, proclaiming that “Football 3.0 is the Asian Age”.
  • ZujuGP also hosts an AI-based application for finding a job in the soccer industry and developing and recruiting soccer talent.

Peter Lim owns La Liga Club Valencia CF and owns a 40% stake in Salford City, a football club which participates in UK League 2. He made a “significant” investment in McLaren Automotive in 2011.

Foot Locker / Design: Alex Brooks

Just months after reporting second quarter revenue of $ 2.28 billion, Foot Locker is expanding its business with a new clothing line.

The sportswear retailer announced LCKR, its first private label of clothing since its exit from the category three years ago. The line will be available online and in more than 800 stores this week.

Foot Locker Senior Vice President Bryon Milburn said sneaker culture is a state of mind it goes beyond buying sneakers – and “clothes are part of that mindset”.

The business has also grown through acquisitions in recent months.

  • In August, he bought a streetwear and sneaker store Atmos for $ 350 million.
  • The same day he bought a sports retailer WSS for $ 750 million.
  • Foot Locker invested $ 36 million in its store base, digital capabilities, supply chain and other infrastructure during the second quarter.

Other retailers including Dick’s Sporting Goods and Target have launched their in-house sports lines – the success of the latter’s All In Motion brand $ 1 billion in Sales during its first year.

The athleisure market is expected to reach $ 549 billion by 2028.

  • The Las Vegas Raiders still owe former coach Jon Gruden “about $ 40 million”Of his 10-year, $ 100 million contract, but the two sides are expected to find a settlement.
  • Google’s Pixel Phone is the first main sponsor of the NBA Playoffs. YouTube TV will remain the primary sponsor of the NBA Finals.
  • FIFA invited the coaches of the 211 men’s national teams to a meeting surrounding their biennial World Cup proposal.
  • Arizona Cardinals stay the only undefeated team in the NFL, and could still be the most underrated. Get more stories like this in the Sports section, a free daily newsletter. Click here to subscribe.

Would you be interested in purchasing a Lululemon sneaker?

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