Gisele Bundchen: Under Armour’s $590 million woman? – USA TODAY
Gisele Bundchen may be supersizing Under Armour UA , which added more than $590 million to its market cap Tuesday after the sports apparel and athletic equipment maker signed the leggy supermodel to help market its burgeoning women’s line.
Under Armour climbed 4% to 71.13. The $2.77 per-share gain added $591.6 million to Under Armour’s market value, based on 213.28 million shares outstanding.
Baltimore-based Under Armour already has ballerina Misty Copeland, skier Lindsey Vonn, surfer Brianna Cope among its pitch women. TV ads featuring Bundchen are scheduled to break Thursday.
Bundchen, 34, is married to New England Patriot quarterback Tom Brady, who inked an endorsement deal with Under Armour for a minority stake in 2010.
Among the world’s highest-paid models the past eight years – Forbes pegs her 2013 earnings at $47 million – Bundchen hawks for retailer H&M, Chanel No. 5, Pantene shampoo and her own skin care line, Sejaa Pure.
Under Armour isn’t disclosing the value of Bundchen’s contract. But NBA superstar Kevin Durant reportedly rejected Under Armour’s 10-year endorsement deal offer of about $275 million to re-sign with Under Armour rival Nike NKE.
With Tuesday’s gains, Under Armour is now up 96% over the past 12 months.
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