Hall-of-fame golfer Greg Norman is celebrating the thirty-year anniversary of The Greg Norman Company with the announcement of a strategic partnership that is intended to evolve his brand, reach new audiences and expand his portfolio. The partnership is with Authentic Brands Group (ABG), which works with the likes of Shaquille O’Neal, Dr. J and Muhammad Ali on their iconic brands.
The newly announced partnership is specific to the consumer products division of The Greg Norman Company and will not include any role for ABG in owning or managing Greg Norman Golf Course Design, Greg Norman Real Estate, Greg Norman Media, Greg Norman Investments, Greg Norman’s Australian Grille or Shark Wake Park. It will include apparel and accessories, steaks and wine.
The Greg Norman Company becomes the twenty-eighth brand to work with ABG being in the role as “brand manager.” The financial terms of the agreement have not beein disclosed, but it involves an upfront payment by ABG for the future licensing rights and endorsement income derived by a special purpose vehicle, which owns all of the intellectual property and endorsements related to the consumer products division of The Greg Norman Company. ABG will be considered a vendor concerning existing contracts for The Greg Norman Company and has purchased equity to become a partner.
“What they’re charged with doing is building longtime value and building annuity businesses,” explained The Greg Norman Company COO Chris Dillavou. “They build out a partner ecosystem that can exploit all those different areas — fashion, sports, celebrity and entertainment brands.”
This is the latest move in what has been a re-branding process that began roughly a year ago. It started with a name change from Great White Shark Enterprises to The Greg Norman Company, as well as a newly designed shark logo for the company.