The Los Angeles Lakers were one of the last teams without a jersey ad patch deal in the NBA, but the franchise announced Thursday they have agreed to a multi-year agreement with growing e-commerce company Wish.
"We are thrilled to welcome Wish as a new partner of the Los Angeles Lakers. When it came to the jersey patch, knowing its prominent placement, our goal was to partner with an innovative and ambitious global company. Wish more than checks that box,” Tim Harris, Lakers president of business operations and chief operating officer said in the press release.
So what exactly is Wish? Wish is a startup company that built a shopping app that is “worth more than Sears, Macy’s and JC Penney combined,” according to a Forbes article that was conveniently published one day prior to the Lakers’ big announcement.
The company is valuated at $8.5 billion and has been raising hundreds of millions of dollars over the past year. Wish offers consumer goods at incredibly low prices, with the caveat of long shipping times due to goods coming directly from overseas manufacturers.
Anyhow, the Lakers also provided a few looks at how the patch is going to look on their refreshed Nike uniforms as well, for those interested:
See our players in the updated look: https://t.co/AQF1nlQIwR #LAKERSxWISHapp pic.twitter.com/2oCTZJHCzR— Los Angeles Lakers (@Lakers) September 21, 2017
The Lakers are also promising a “large-scale integrated marketing program,” and more collaborations with the company, including “community initiatives” in Los Angeles and other counties in Southern California.
It’s an interesting partnership, and details of the deal have not been reported. The Golden State Warriors’ deal with Rakuten is reportedly worth $60 million over three seasons, which thus far is the most lucrative jersey dea.
The price of being on the front of a Lakers jersey was likely a steep one, but Wish is gambling on the exposure helping them elevate market awareness for their highly-successful shopping app. Beyond that, we’ll have to wait to see what kind of things they work on together.
Enjoy this jersey sizzle reel until then:
#LAKERSxWISHapp pic.twitter.com/yIitn1mG3u— Los Angeles Lakers (@Lakers) September 21, 2017
UPDATE (12:10 p.m. PT): Details of the deal put it in the range of $12-14 million per year over three seasons:
The Lakers have signed an jersey ad patch deal with ecommerce company Wish. Worth $12-$14M a year for three years, says @sbjsbd. pic.twitter.com/ojMTgBvrS5— Darren Rovell (@darrenrovell) September 21, 2017