(Read Full Article at https://www.forbes.com/sites/matissa/2023/12/22/isaac-okoro-signs-equity-deal-with-holo-footwear/?sh=6a7e60b41d0c)
Okoro will be joining the rarified group of players who have their own signature sneakers (Okoro is the 27th active player in this category) with HOLO Footwear.
The deal will give Okoro the chance to craft his own unique signature shoe (and apparel line) that will be available in stores all across the planet. However, unlike many athletes with their own signature sneakers, Okoro’s deal with HOLO will also give him equity in the company.
“I’ve always dreamed about being able to have and create my own shoe, so being able to be in that position right now is truly a blessing,” Okoro told me in an exclusive interview. “Also, having equity in the company makes it 10x better as it provides me with an actual seat at the table, which is unique in today’s day and age.”
The deal was negotiated by Daveed Cohen and Adie von Gontard of Young Money APAA Sports, as well as Cooper of LifeStyle Sports Agency. Along with his stake in the company, Okoro will also receive a multi-million dollar base compensation and royalties on each shoe that is sold that is part of his signature line.
“We all know Isaac is one of the hardest workers, and that is something that is just in his DNA,” von Gontard, Co-Founder and CEO of Young Money APAA, told me. “He’s always had the first one in and the last one out mentality. We wanted to make sure that work ethic was recognized, and that’s evident through this opportunity he's earned for himself and his family. All the hours and work he’s put in on the court, it’s paying off for him off the court.”
“The goal for Isaac in building his personal brand has always been to be at the intersection of sports, business, performance, and culture,” Cohen, VP of Player Marketing & Brand Partnerships at Young Money APAA, said over the phone. “This deal puts Isaac firmly in that space.”
On the cultural component of it all, Cohen also added, “Not even just sneaker culture. This company is led by minorities. Rommel and Yuri are Hispanic. And it was really important to them to make sure that they create a sneaker product that is accessible to all groups of people, regardless of their socioeconomic status.”
“Their huge mantra is sustainability and attainability. Attainability meaning that any kid in any neighborhood can afford their sneakers. They want to make sure kids from all communities can afford this shoe.”
Now, this minority-run, sustainability-focused company has teamed up with the burgeoning Okoro to build a shoe that perfectly complements his playstyle on the court.
Read Full Article at https://www.forbes.com/sites/matissa/2023/12/22/isaac-okoro-signs-equity-deal-with-holo-footwear/?sh=6a7e60b41d0c
-Matt Issa, Forbes (writer/analyst covering the NBA)
