Gap's Athleta Brand Signs Gymnast Simone Biles Away From Nike
Gymnast Simone Biles captured the attention of sports fans for her talent both on the mat and off, such as the backflip she performed on the pitcher's mound in Houston before throwing out the first pitch during the 2019 World Series.
Now she's attracted the attention of Gap's (NYSE: GPS) Athleta brand, which announced today that it has signed the sports star to represent the athleisure apparel company under a long-term contract. It's a major blow to Nike (NYSE: NKE), as Biles was a brand ambassador for the sporting goods company, though she never figured prominently in any of its ads.
Her relationship with Athleta promises to be much different, as The Wall Street Journal reports she will have her own line of athleisure clothes and the apparel company will support a gymnastics tour she will be launching separately from the USA Gymnastics tour.
Source Fool.com
