This audio is auto-generated. Please let us know if you have feedback.
Dive Brief:
- Beauty brand Madison Reed has signed name, image and likeness deals with University of Connecticut women’s basketball players Paige Bueckers, Azzi Fudd, Ice Brady and Morgan Cheli, who will serve as brand ambassadors as part of the agreement.
- The partnership coincides with the launch of a new product — ColorWonder, a demi-permanent hair color available for home use or professional in-salon application, according to a company press release.
- To support the product launch, the brand launched a concurrent marketing campaign with the athletes, which will include influencer partnerships, in-store marketing at Ulta Beauty and anticipated national TV exposure. The UConn Madison Reed brand partner athletes are also expected to appear at events in Los Angeles in late September and early October ahead of the basketball season’s start in November.
Dive Insight:
Madison Reed CEO and founder Amy Errett is a UConn alumnus and member of the university foundation’s board of directors.
The partnership between the school and brand will also offer the athletes career and mentorship opportunities, including possible internships with Madison Reed for class credit at the university; an opportunity for an equity stake in the business; and opportunities to franchise a Madison Reed salon.
“As an athlete, confidence is key to my success, and I'm most confident when I can express myself authentically," UConn basketball player Fudd said in the announcement. “I am excited to be a part of this journey with Madison Reed and inspire others to tap into their inner confidence as they flirt with creativity and hair color.”
In addition to signing UConn women’s basketball team members, the beauty company and university on Wednesday also announced a three-year court naming rights deal for the Gampel Pavilion and XL Center. The financial terms of the deal were not disclosed. The company will be the first female- and alumni-founded brand with court naming rights at the university, according to an announcement.
“From the start, it was clear that Madison Reed was a company whose values around team and opportunity aligned with mine,” UConn women’s basketball guard Bueckers said in a statement. Bueckers kicked off her brand ambassador partnership by going from blonde to Madison Reed’s Sparkling Rosé.
Founded in 2013, Madison Reed’s products are available direct-to-consumer for home use or for professional application at nearly 100 hair color bars. Besides Ulta Beauty, the company’s products are also available on Amazon, select Ulta Beauty at Target locations, Target and Walmart.
In 2022, the company raised $33 million to expand its store footprint. Last spring, it introduced a new four-tiered membership loyalty program. And last summer the brand debuted on Walmart’s website and at select stores.
via https://www.aiupnow.com
Nate Delesline III, Khareem Sudlow
