The Business of Being a Phelps
“Michael Phelps is leaving Beijing as a global sports icon. He’s now with the likes of the Michael Jordans, Tiger Woods and Roger Federers and he’s earned every bit to be in that elite company,” says the head of global sponsorship at Visa, one of Michael Phelps’ sponsors.
The brands seem to agree and are clamoring for a piece of Phelps, Inc. He’s endorsed by Speedo, AT&T Wireless, Powerbar, Omega Watches, Pure Sport, and Kellogg’s. Phelps will soon adorn the boxes of not only Kellogg’s Corn Flakes, but Kellogg’s Frosted Flakes as well. His $3 to 5 million per year in company endorsements will be multiplied by ten, strategists project.
But Michael Phelps isn’t the only Phelps with value. Mrs. P, who has received more prime-time coverage than most Olympic athletes in Beijing, has a sponsor list of her own. After taking “the hearts of America in terms of parenting and mom of the year,” per Phelps’ agent, and being named “Mom of the Games” per People, she is doing some work with Johnson’s Baby (of J&J), the ADHD Foundation, and Chico’s, the ladies clothing store. Yep, Mrs. P appears to be a fashion icon - after she was seen clad head-to-toe in Chico’s at the Olympics, the company’s “phone lines have been ringing off the hook. Women everywhere want to know how to get Debbie’s look,” says Chico’s Brand President. Though I simply don’t believe that can be true, this potential boost in Chico’s branding could be huge for the company, considering its stock price has seen a 75% decline in the past year. Check out the Debbie Phelps Collection, it could be your lucky charm too!
