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Olympic Gymnast Simone Biles Leaves Nike for Gap’s Athleta Brand
Posted
April 23, 2021
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1,660
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April 23, 2021
1,660
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0:44Now PlayingGap Inc.’s Athleta division has soared over the past year as Americans embraced loungewear during the pandemic. Now, the athleisure line is gaining credibility as a performance brand, too.
Athleta on Friday announced a long-term partnership with highly decorated Olympic gymnast Simone Biles to create a line of products for “aspiring athletes,” specifically girls. With the agreement, Biles ended her affiliation with athleticwear behemoth Nike Inc. in favor of the lesser-known brand.
“I admire Athleta for their commitment to recognize and support women’s individual and collective strength,” Biles said in a statement announcing the deal. “Together, I believe we can help girls to confidently and passionately take on the world in their athletic endeavors and beyond.”
The tie-up is Athleta’s biggest step yet to establish itself as a brand for athletes, alongside Nike or yogawear titan Lululemon Athletica Inc. The Gap unit had previously dipped its toe into the sponsorship world with an agreement in 2019 to bring another formerly Nike-affiliated athlete, Olympic track star Allyson Felix, into its ranks as a brand ambassador.
Gap’s shares rose 1.4% as of 10:12 a.m. in New York. Shares of Nike, which is losing Biles just days after a deal with the estate of former basketball great Kobe Bryant ended, were little changed.
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