Five-time Grand Slam title winner and business owner Maria Sharapova revealed on Tuesday she’s buying wellness brand name Therabody (previously called Theragun). Sharapova, who retired from tennis in February, will function as a tactical consultant to assist the brand name with worldwide development technique and collaborations.
“I think my biggest strength as an investor is that I’m able to bring a 360-degree outlook to the table — as an athlete, an entrepreneur and a consumer,” Sharapova informed CNBC in e-mail. “Since Therabody’s launch, they have continued to demonstrate they are on the cutting-edge of combining technology, fitness, and wellness, bringing more balance to people’s lives.”
The business, initially understood for its Theragun massage tool, has actually grown to consist of numerous high-end massage treatment items that are regularly seen on the sidelines of expert sports groups.
In addition to Sharapova, Therabody has relationships with NBA All-Star Paul George and 2020 PGA Championship winner Collin Morikawa who function as brand name ambassadors. Last month, the business broadened its offerings to consist of a line of product of CBD oils and creams.
“As we continue to innovate and offer whole-body wellness products, Maria shares Therabody’s vision to improve people’s lives with natural wellness solutions. As a former professional athlete, she knows exactly how to recover and take care of her body on and off the court,” Benjamin Nazarian, CEO of Therabody, stated in a declaration.
Therabody decreased to inform CNBC how big of a stake Sharapova took in the business.
The tennis star is no complete stranger to entrepreneurship. She pertained to the United States as a 7 years of age with simply $700 in her pocket. The Russian-born tennis gamer’s profession rapidly removed starting at the age of 14, when she turned professional and turned into one of the leading tennis gamers on the planet.
Throughout her 28-year profession, Sharapova got high profile recommendation handle brand names such as Nike, Porsche, UBS, Tiffany, Gatorade, Tag Heuer, and Land Rover.
Sharapova began her own business in 2012, a sweet and sugary foods brand name called Sugarpova. With a preliminary $500,000 financial investment, the brand name now supposedly makes about $20 million each year.
Forbes quotes Sharapova’s overall profession incomes to be more than $325 million from cash prize and recommendations, making her the 2nd greatest paid female tennis gamer of perpetuity (behind Serena Williams). For 11 straight years, she held the title of greatest paid female professional athlete.
Following an unsuccessful doping test for usage of meldonium in 2016, Sharapova invested 15 months on the sidelines suspended. When she returned, she dealt with unpleasant injuries and eventually revealed her retirement from tennis at the age of 32.
“I’m ready to scale another mountain—to compete on a different type of terrain,” she informed Vanity Fair at the time.
Now that she’s not taking a trip the world on the expert tennis circuit, Sharapova has actually set her sights on concentrating on her services and investing more time with her liked ones.
“Having more flexibility in my schedule, and not having to change things or plan things last minute, has been one of the biggest joys in this new phase. Lately, I’ve been able to explore new ways of working out, or dedicate most of my day to the Sugarpova business,” she stated.
In addition to her newest financial investment with Therabody, Sharapova’s portfolio consists of financial investments in Ultimate Fighting Championships (UFC) and sun block business Supergoop, of which she’s a co-owner. In February, Sharapova looked like a visitor judge on ABC’s “Shark Tank,” where she and Mark Cuban collaborated to purchase a wearable weights business called Bala Bangles.
Sharapova is dealing with designer Dan Meis to develop and provide top quality tennis, health and health medspa centers worldwide. An statement on their partnership is anticipated in the coming months.
“I try to create deeper and more meaningful partnerships that go beyond just having my name on a product. More than anything, I like to play a strategic role in my investments and pursue opportunities where I’m able to share my vision and experience,” she stated.
“I like to think I’m a curator of good quality and that I have an eye for what works versus what doesn’t.”
