Kobe Bryant’s $6 million investment in BodyArmor sports drink now worth $200 million
Los Angeles Lakers legend Kobe Bryant wins on and off the court. In 2013, Bryant invested millions in BodyArmor, a rehydrating drink for athletes. Today, his $6 million investment is now worth $200 million.
Just yesterday, Reuters reported that Coca-Cola has bought a minority stake in BodyArmor to pose a bid against the fast growth of Gatorade in the industry. Aishwarya Venugopal wrote:
“Coca-Cola’s investment in BodyArmor – which will make it the brand’s second largest shareholder – comes as its Powerade drink competes for market share with Gatorade. Coke has also been rattled by falling demand for its trademark fizzy drinks.”
Bryant also took pride in this and was quick to post his thoughts through his Twitter account.
Proud of our team at @DrinkBODYARMOR & our new partnership with the @CocaColaCo who believes in our mission of becoming the #1 Global Sports Drink. Thanks @Gatorade, we’ll take it from here… #ObsessedWithBetter https://t.co/fLVnBxWfDE
— Kobe Bryant (@kobebryant) August 14, 2018
Well, it seems that Bryant has not lost his competitive edge just yet. Darren Rovell of ESPN wrote an interesting fact about the Black Mamba’s business move with BodyArmor.
“Bryant is now the fourth largest investor in the brand, marketed as a healthier competitor to Gatorade, behind the brand’s co-founder Mike Repole, Coca-Cola and Keurig Dr Pepper. When he invested in BodyArmor, the brand had just come off a year of $10 million in sales. BodyArmor is projected to top $400 million in sales in 2018.”
Bryant has been a driving force behind BodyArmor’s success. The product’s founder and CEO Mike Repole expressed his gratitude over the Lakers legend’s influence on the brand.
“When I teamed up with Kobe, I thought I was getting an elite basketball player with great vision,” Repole said. “I wound up with an Oscar winner who has his fingerprints all over our creative that we deeply benefited from.”
After retiring, Bryant never stopped being busy. He has since built his own production company, Granity Studios, and is making waves with his own reality show, “Detail.”