Monday September 25, 2023
The Best Employers in Sports Survey is Now Open!

Jordan, Giannis Invest In WatchBox At $1B Valuation

Michael Madrid-USA TODAY Sports/Design: Alex Brooks
Front Office Sports Today

How Jamie Erdahl Made Good Morning Football Her Own

Jamie Erdahl joins to discuss her career and the growth of “Good Morning Football.”
Listen Now
September 25, 2023 | Podcast
Copy Link
Link Copied
Link Copied

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.

Copy Link
Link Copied
Link Copied

What to Read


NHL’s Chris Foster on Amplifying Content Distribution With Automation

Learn how the NHL is using WSC Sports to increase fan engagement.

How Daktronics Helps Elite Athletic Programs Secure Top Talent

How colleges are utilizing Daktronics' displays to elevate recruiting.

WBD Pursues ‘Different’ Strategy For Sports on Max

Company to place all of its live sports on new streaming tier

Colorado's Epic Victory Sets New ESPN Prime Time Viewership Record

Coach Prime Deion Sanders delivered in prime time on ESPN.
podcast thumbnail mobile
Front Office Sports Today

How Jamie Erdahl Made Good Morning Football Her Own


Featured Today

Chatri Sityodtong

ONE Championship's Quest To Challenge Rival UFC Through U.S. Expansion

Leveraging its Amazon deal, ONE Championship seeks to expand in U.S.
September 24, 2023

Savannah Bananas Break All The Rules To Hit The Mainstream

Team concludes 2023 tour with even-bigger plans for next year
Deion Sanders with The Rock on ESPN's "College GameDay."
September 23, 2023

Deion Sanders Generated $45M In Earned Media For Colorado

From Sept.1-22, Sanders generated $45.7M for the public university.
September 23, 2023

Up Next For College Football Playoffs: More Change, Money, And ... Streaming?

Many changes are coming to the CFP when it expands to 12 teams.


Powered By

Careers in Sports

Looking for a new job? Check out these featured listings and search for openings all over the world.
Chicago Cubs
New York
Tri Star Sports and Entertainment Group, Inc.
USA - Multiple Locations
September 20, 2023

Adidas CEO Stands Behind Ye Nearly Year After Brand Cut Ties

Gulden's comments mark rare and surprising corporate move
Amer Sports, the parent company of Wilson Sporting Goods and Louisville Slugger, has filed for an IPO according to Bloomberg.
September 7, 2023

IPO Could Reportedly Value Wilson Parent at $10 Billion

The NFL, NBA, NCAA, and U.S. Open tennis use Wilson game balls.
Foot Locker's Q1 sales dropped 11.4%.
August 23, 2023

Sports Retailers, Brands Struggle As Consumer Habits Shift

Foot Locker and Peloton are seeing their stock prices dip.
August 22, 2023

Dick’s Sporting Goods Reports Worst Post-Pandemic Earnings

The company missed Wall Street’s earnings expectations badly.
August 3, 2023

Adidas’ Bottom Line Gains Big Boost From Yeezy Sales

Closeout sales of discontinued stock provide significant revenue lift
July 30, 2023

Billion-Dollar Mini-Cities Becoming Top Priority For Stadium Projects

Cleveland is the latest city to explore vast development.
Colombia's goalkeeper punches the ball away during a match with South Korea at the 2023 FIFA Women's World Cup.
July 28, 2023

Nike Outselling Adidas at Women’s World Cup

Nike has sold out 17% of its 2023 Women's World Cup merchandise.