Chloe Kim well-positioned to capitalize on endorsement deals
One of the biggest breakout stars of the 2018 Winter Olympics has been Chloe Kim. The 17-year-old snowboarder won gold in the women’s halfpipe earlier during the week, and her humorous and friendly personality have endeared her to fans.
Olympic champions tend to have the opportunity to score endorsement deals, and Kim is uniquely well-positioned in that regard.
According to ESPN’s Darren Rovell, all of Kim’s current endorsement deals will expire this spring when she turns 18 (her birthday is April 23). Rovell says she currently has deals with Nike, Burton, Oakley, Toyota, Visa, Mondelez (Ritz and Oreo), Samsung, Monster Energy and Amore Pacific’s Laneige.
Kim’s father wanted his daughter to have control of her endorsements when she turns 18, which just so happens to come at a perfect time — two months after she’s won a gold medal. Kim’s brand value and popularity may very well be peaking right now, so signing new deals at this time should allow her to command top dollar. It’s like an MLB player hitting free agency right after winning regular season and World Series MVP at age 25.
Based on the way several companies have already reacted to some of Kim’s tweets, brands are eager to be in business with her.