Football star Mbappé is investing in the German electronics company, with which he has already co-developed a Bluetooth speaker and whose brand ambassador he is. There is already a famous example of the new collaboration.
French footballer Kylian Mbappé is investing in the Bavarian electronics company Loewe Technology. The TV manufacturer hopes that the sports star’s entry will increase sales – and an IPO doesn’t seem to be out of the question.
The 25-year-old Real Madrid player has acquired a minority stake of more than ten percent through his investment company Coalition Capital, Loewe announced. However, the transaction value was not disclosed. At the beginning of the year, the company – which is best known for its high-end televisions – recruited Mbappé as a brand ambassador.
IPO could follow
The company wants to increase its annual sales, which are generated primarily in the markets in North America and Asia, from the current 60 million euros to around 300 euros in the next few years, Loewe CEO Aslan Khabliev told Bloomberg. This could potentially lead to an IPO for the Kronach company.
“Ideally, Loewe’s valuation will increase to around 500 million euros in the next five years,” said Khabliev. The blueprint for Loewe’s collaboration with Mbappé was the partnership between tennis star Roger Federer and the sports brand On.
This year, Mpappé acquired shares in French second division club Stade Malherbe Caen held by Inter Milan owner Oaktree Capital. Loewe is likely to benefit from Mbappé’s large online fan base, which includes 122 million followers on Instagram.
“Kylian helped us tremendously with a Bluetooth speaker that we developed together with him,” Khabliev continued. Some of Mbappé’s teammates also promoted the product on social media, he added. (Bloomberg/jmp)
