Retail and leisure conglomerate Unique Manufacturers Crew introduced Thursday it has entered right into a partnership to co-own and oversee David Beckham’s world logo.
Unique Manufacturers declined to expose monetary phrases of the deal. An individual conversant in the transaction stated the corporate paid about $269 million for a 55% stake within the football celebrity’s DB Ventures.
As a part of the deal, Beckham will develop into a shareholder in Unique Manufacturers, which owns shops reminiscent of Without end 21 and Barneys New York, and the rights to iconic stars together with Elvis Presley and Shaquille O’Neal, who may be a big investor.
The transaction will permit Unique Manufacturers to open its Ecu headquarters in Beckham’s current London workplaces, the corporate stated.
David Beckham seems at an tournament in Singapore.
Suhaimi Abdullah | Getty Photographs
Unique Manufacturers additionally stated it’s now the biggest shareholder in Studio 99, a manufacturing corporate Beckham co-founded in 2019.
“David and his workforce have constructed an undertaking that spans sports activities, leisure, way of life and comfort, and we see important alternatives to scale his logo and increase it into new verticals,” stated Jamie Salter, founder, chairman and CEO of Unique Manufacturers.
DB Ventures lately manages Beckham’s endorsement offers with corporations together with Tudor watches and whisky label Haig.
Unique Manufacturers shelved its plans to move public after it agreed in November to promote a 25% stake to non-public fairness company CVC Capital Companions and hedge fund HPS Funding Companions. The deal gave the corporate an undertaking worth of $12.7 billion.
Unique Manufacturers is also within the technique of obtaining sneaker label Reebok from Adidas for approximately $2.5 billion. That deal is anticipated to near within the first quarter of this yr.