• Loading stock data...
Saturday, July 5, 2025

Jordan, Giannis Invest In WatchBox At $1B Valuation

Michael Madrid-USA TODAY Sports/Design: Alex Brooks

Michael Jordan and Giannis Antetokounmpo are adding to their investment portfolios by investing in luxury watch marketplace WatchBox. The investment puts the startup at a reported valuation near $1 billion.

WatchBox allows users to buy, sell, and trade luxury watches. Similar to other resellers like StockX, WatchBox authenticates the products — but differs in that it has client advisors to manage users’ watch portfolios.

The $165 million round, which adds to the $260 million raised since its inception in 2017, also includes investments from Milwaukee Bucks co-owner Marc Lasry and Phoenix Suns players Chris Paul and Devin Booker.

Athlete interest in watch brands is trending.

  • Earlier rounds for WatchBox included former NFL stars Larry Fitzgerald and Michael Strahan. CEO Justin Reis says many of the athletes are customers, so the relationships are authentic.
  • Tom Brady took part in a $40 million round in December 2020 for watch company Hodinkee.

Pre-owned watch sales are estimated to reach $32 billion by 2025, according to estimates from consulting firm McKinsey. WatchBox has an inventory currently valued at around $150 million.

Reis told CNBC on Monday that WatchBox is on pace to hit $300 million in 2021 net revenue and has surpassed $1 billion in revenue since it was founded in 2017.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

Joopiter, Michael Jordan card

Michael Jordan Rookie Card Sells for Record $2.5M in Eyebrow-Raising Auction

The auction, which received only one bid, sets a new record.
Jun 22, 2025; Oklahoma City, Oklahoma, USA; Indiana Pacers guard Tyrese Haliburton (0) drives to the basket against Oklahoma City Thunder guard Shai Gilgeous-Alexander (2) during game seven of the 2025 NBA Finals at Paycom Center.

Multiple NBA Title Contenders Will Reckon With Achilles Injuries Next Season

The NBA has seen its highest number of Achilles tears since 2014–15.

Featured Today

Baseball’s Celebrity Row: Behind MLB’s First-Pitch Ritual

Often planned, sometimes spontaneous, the ritual throw is baseball’s celebrity row.
July 4, 2025

3,000 Hot Dogs, $20K in Prizes: Behind the Nathan’s Eating Contest

Nathan’s serves up thousands of hot dogs and $20,000 in prize money.
July 3, 2025

Geoffrey Esper Can’t Catch a Break at Nathan’s Hot Dog Eating Contest

“Hot dogs is not one of my favorite competitions of the year.”
June 29, 2025

The Battle Over Wimbledon’s Ambitious Expansion Plan

A classic NIMBY standoff on one of the most hallowed grounds in sports.
A Lululemon store at Freehold Raceway Mall in Freehold Township, New Jersey on Nov. 30, 2023

Sportswear Stocks Rise as Trump Touts Vietnam Trade Deal

Tariffs on Vietnam imports will be 20%, down from a prior threat of 46%.
Jun 20, 2024; Eugene, OR, USA; Detailed view of Nike Alphafly 3 racing flat at the Nike by Eugene store.
June 25, 2025

Investors Hunt for Signs Nike Has Regained Its Footing

Nike’s fundamentals are “still challenged.”
From vintage to unique collaborations, various Nike and Jordan shoes are displayed on a wall at Saved Soles inside West Ridge Mall.
June 26, 2025

Nike Stumbles Less Than Expected, Giving Wall Street Hope

The sports apparel and footwear giant beats Wall Street expectations.
Sponsored

Hottest Matchups Following NFL Schedule Release

The NFL released the 2025 regular-season schedule, and anticipation is already building in the ticket marketplace with four months to go.
Jun 15, 2025; Oakmont, Pennsylvania, USA; JJ Spaun putts on the 18th green to win during the final round of the U.S. Open golf tournament.
June 16, 2025

‘Pandemonium’: Putter Maker Sees Sales Surge After JJ Spaun’s U.S. Open Win

The company behind Spaun’s putter is already in talks with his people.
June 13, 2025

U.S. Open Merch Pops Thanks to Oakmont’s Squirrel, Viral TikToks

There are more than 400,000 pieces of merchandise available at Oakmont.
Tom's Watch Bar
June 12, 2025

How the Pacers and Caitlin Clark Boosted One Bar’s Bottom Line

Tom’s Watch Bar hosted John Haliburton for at least five games.
June 12, 2025

U.S. Open Cashing In on Signature Cocktail Trend With Lemon Wedge

Last year, the whiskey cocktail was served more than 50,000 times.