The Business Behind the Brilliance: How Simone Biles Makes Money
Simone Biles is not only a trailblazing gymnast and Olympic champion but also a savvy businesswoman. As she continues to dominate the world of gymnastics, Biles has strategically forged partnerships and endorsement deals that have made her a highly successful entrepreneur. Let’s explore how this extraordinary athlete turns her brilliance on the mat into financial success off it.
1. The Shift from Nike to Athleta:
In a significant move in 2020, Simone Biles parted ways with sportswear giant Nike and announced a new partnership with Athleta. This decision was not merely a brand change; it represented Biles’ commitment to aligning with brands that share her values and resonate with her as an individual.
2. Forbes’ Estimate of Earnings:
The Forbes magazine estimates that Simone Biles makes a minimum of $5 million annually through her various partnerships and endorsements. This figure reflects not only her impressive performance on the gymnastics floor but also her immense popularity and influence.
3. Athleta Partnership:
Biles’ partnership with Athleta has become a centerpiece of her business ventures. As part of the deal, Athleta pledged to support her even after the Olympics by arranging a national exhibition for her, competing directly with U.S.A. Gymnastics’ traditional exhibition. The collaboration also includes a line of Simone Biles-inspired activewear, which further reinforces her status as a role model for athletes and young girls around the world.
4. Trusted Brands:
Apart from Athleta, Biles has strategically aligned herself with trusted brands that recognize her influence and unparalleled talent. Some of these brands include Visa, known for their support of athletes and sports events, and GK Elite, a well-known gymnastics apparel company.
5. United Airlines Partnership:
Simone Biles’ collaboration with United Airlines reflects her global reach and recognition as a worldwide sports icon. As an official partner, Biles brings her winning spirit and determination to the brand, and in turn, the airline celebrates her achievements and commitment to excellence.
Simone Biles is not just a world-class gymnast; she’s also a master of business. By carefully selecting partnerships with brands that resonate with her values and appeal to her fan base, Biles has built a lucrative empire off the gymnastics mat. Her decision to work with Athleta and other respected brands has not only elevated her financial success but also solidified her position as a role model and inspiration to aspiring athletes worldwide. As Simone Biles continues to shine both as an athlete and entrepreneur, her future is undoubtedly as bright as her gold medal collection.
