According to the Associated Press, Michael Phelps has found his newest swimwear endorsement. The winningest Olympian in the history of swimming (or any other sport for that matter) has signed with Aqua Sphere.
This is a big move for Phelps, who when he came back earlier this year did not renew his sponsorship agreement with Speedo – the brand that had almost become synonymous with Phelps. Instead, Phelps has worn suits from other companies in his return to competition, often with the brand name blacked-out.
Aqua Sphere, while certainly a known brand among swimmers, is not at the stature as the three majors: TYR, Arena, and Speedo. With Phelps’ name still carrying prodigious weight within the swimming community, however, this is their chance to make a breakthrough.
The AP reports that Phelps and his coach Bob Bowman met with the company last week to look at suit prototypes and discuss future design potential. At present, Aqua Sphere only offers one line of “tech suits” for men and one for women – a jammer simply listed on their website as “tech suit” for $99.95, and a knee skin for women listed as the same for $119.95.
Phelps is not the first Olympic champion that this company has endorsed, however. Amanda Beard also signed with Aqua Sphere as she swam toward a 5th-place finish at the 2012 U.S. Olympic Trials in the 200 breaststroke, and she is still under contract with them as she is looking toward the 2016 Trials.
This derails wide-spread speculation that Phelps was working with Baltimore-based Under Armour to develop their first suit line.
Working with this brand, then, gives Phelps the opportunity to work on developing his own line, meeting his tastes and specifications. Beyond his exploits in the pool, his brand power, and his star power, this could be a real jumping-off point for Phelps to develop his business career after swimming and establish some more hands-on experience in the dry side of the business.
That…along with his 18 Olympic gold medals.
I’ve been told by a very reliable source that many suit manufacturers for Speedo, TYR, Finis, Etc. are all within about a square mile of each other, possibly connected, I’m sure they share labor if not design / manufacturing equipment and processes. These are much like Nike who was exposed in the 90’s for building a shoe for under $5 and resale was over $100. It would be super cool if someone would work with some US Textile Companies (there are very few left) to develop a US made suit!
Very, very smart move. I see a lot of AquaSphere goggles in the pool when swimming masters. They previously sponsored an Ironman winner. It just seems that the market share growth will be with masters/fitness adult swimmers. Aqua Sphere makes a great product and more adults looking to stay fit without the pounding will increasingly get into the water. Look to see Phelps show up for some masters meets as he gets into retirement, and maybe even some open water swims to help promote the brand.
In the video released by AquaSphere you can see the new suit, goggles and cap. As well as a snorkel of some sort.
https://www.youtube.com/watch?v=9NxFzMYuvWw
The new suit looks more like an “arena” type suit to me. It also appears to be an entirely new design as their ” tech suit” they offer now.
As a swimmer if this suit is cheaper and of equal or better quality than a “speedo” or “arena” then I’m almost certainly on board.
Phelps said in the press conference that he’ll be wearing Aqua Sphere cap and goggles this week. He said he’s been deciding on suits day-by-day or session-by-session, but didn’t mention an Aqua Sphere suit this week. So, probably Arena and/or Speedo.
Contract goes through the 2020 Games in Tokyo…
Although I’m moderately sure that by then he will be earning his pay out of the comp pool. Either way, cool stuff.
I’d venture to guess that this is a deal which will remunerate Phelps with equity…think LeBron and headphones. If this brand takes off, his interests in the company would grow as a stockholder. And with him as an endorser, the brand will be instantly more popular and successful.
Joel Lin – that was my initial instinct as well.
Similar to Michael Jordan and Nike. When Jordan signed his first Nike contract the company share price was a tiny fraction of what it was worth when he retired in 1998.
Not very many at press conference
Off topic but you can watch a pre-meet press conference live from Irvine at 10 AM Pacific Time.
Link here
http://usaswimming.org/DesktopDefault.aspx?TabId=1418&Alias=Rainbow&Lang=en