News: Kobe Bryant Makes First Investment

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Last year Kobe Bryant announced his company Kobe Inc. with the mission of “own[ing] and grow[ing] brands and ideas that challenge and redefine the sports industry.” The first investment will be a sports drink called Body Armor. He says the investment is “substantial” with reports saying it’s in the millions (between 4 and 6). He will sit on the board of directors for the drink and own more than 10% of the company. Body Armor arrived on the scene in 2011 and generated more than $10 million in revenue. Each drink has more than 2.5 times the electrolytes of traditional sports drinks and is lower in sodium. Bryant has said that Body Armor will shake up the “bland” and innovation-less sports drink world and plans on being involved with all aspects of the business.

Of this new venture Kobe said,

“I have always had ideas and always had a vision of where I wanted to go going back to 2000, but they are just ideas. Now, once the Achilles injury took place, I’m sitting at home for months not moving, a couple things set in. One is that there is only so many Modern Family episodes a person can watch. And then two, what do I do now?”

Watch the interview HERE.

 

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