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Giannis Antetokounmpo Recalls Walking Away From An Adidas Deal That Didn't Fulfill Its Terms To Sign His Brother Thanasis Too

The Antetokounmpo family doesn’t play when it comes to their own. Nike has been a long supporter of Giannis Antetokounmpo and his family since the very beginning of his career in 2013, and it’s also what encouraged the NBA superstar to pass on another endorsement deal with one of the athletic apparel company’s competitors. According to Bleacher Report, during an appearance on the “Thanalysis Show,” Antetokounmpo recalled the moment he decided to walk away from a deal at Adidas because he was in a position where he needed to help support his family. After an initial offer featuring a deal for both Giannis and his brother Thanasis Antetokounmpo, Adidas backtracked on the plan, prompting Giannis to turn down the proposal. “[An Adidas representative] brought the contract and put it in front of me, and I’m like, ‘Okay great, where is my brother’s?’” Antetokounmpo explained, per Bleacher Report. “And he was like, ‘We’re not going to sign your brother’s today. You’re going to sign yours,...

Shanique Yates

Apr 19, 2024

Mented Cosmetics, A Black-Woman-Owned Beauty Brand, Has Been Acquired

Black woman-owned beauty brand Mented Cosmetics has been acquired by West Lane Capital Partners, Beauty Independent reports. The company, co-founded in 2017 by KJ Miller and Amanda E/J Morrison, offers products that cater to women of all complexions, its website mentions. According to Beauty Independent, Mented Cosmetics’ inaugural product was nude lipsticks created for women of color, which is still one of its best sellers. Mented Cosmetics’ products have since expanded to include mascara, blush, eyeshadow, foundation, and more, which can be seen on its website. Prices range from $16.50 to $30, the outlet says. The brand first relied on direct to consumer (DTC) distribution before landing in retail stores. As of this writing, its products are being sold in Ulta Beauty, Target, CVS and Walgreens but will shift its focus to DTC, the outlet notes. Over the years, the company has raised $9 million in venture capital funding, Crunchbase lists. However, there have been some growing...

Samantha Dorisca

Apr 19, 2024

Richelieu Dennis’ Sundial Media Group, Which Is Home To Essence, Afropunk, And More, Acquires Refinery29

Sundial Media Group is adding another media conglomerate to its portfolio. According to a news release shared with AFROTECH™, Richelieu Dennis’ Sundial Media Group (SMG) has officially acquired Refinery29 (R29), a creative digital media and entertainment platform focusing on multigenerational women. The company previously belonged to the Vice Media umbrella. “We’re very excited about the expansive ecosystem we’re building at Sundial Media Group. R29 is an incredible brand with a phenomenal team that will play an important role in reimagining how media serves the need for connection, culture, and commerce in these distinct, but complementary communities of the New General Market,” said Dennis in a press statement. In addition to the acquisition, it has also been announced that Cory Haik will serve as R29 CEO and the company will operate as a standalone business within SMG. “We’ve been admiring the work of this R29 team for a while, and we’re excited to see what they will now do...

Shanique Yates

Apr 19, 2024

McKinley Thompson Jr. Broke Barriers And Developed Concepts That Led To The Bronco, Mustang And More At Ford Motor Co.

From the time he was a kid, McKinley Thompson Jr. was never afraid to chase his dreams, and now everyone has him to thank for the Ford Bronco that the culture grew to know and love. Thanks to Thompson’s imagination and skill, he made history as the first Black designer to be hired by Ford Motor Co., and his first assignment consisted of working at Ford’s advanced design studio in Dearborn, MI, per the Ford media website. His love for cars first began around age 12 when he spotted a silver-gray DeSoto Airflow in Queens, NY, the neighborhood where he was raised. “It just so happened that the clouds opened up for the sunshine to come through,” Thompson recalled in a 2001 interview that was documented by The Henry Ford. “It lit that car up like a searchlight. I was never so impressed with anything in all my life. I knew that’s what I wanted to do – I wanted to be an automobile designer.” While serving as an Army Signal Corps in World War II, Thompson learned drafting and began work as...

Shanique Yates

Apr 17, 2024

Former Walgreens CEO Rosalind 'Roz' Brewer Joins Black Economic Alliance's Board Of Directors

Rosalind “Roz” Brewer has joined a coalition of leaders to advocate for financial prosperity in Black communities. As AFROTECH™ previously told you, Brewer — an alumnus of Spelman College — formerly helmed as Walgreens Boots Alliance chief executive officer (CEO). This company, headquartered in Illinois, owns the retail pharmacy chain Walgreens in the U.S. and the U.K. However, Brewer exited her position in August 2023. She was the only Black woman to hold the C-suite title in the S&P 500 at the time, per Bloomberg. The former Walgreens CEO was also the third Black woman to lead a Fortune 500 company, notes Forbes. Before Walgreens, Brewer served in leadership roles for retail giant Walmart and then transitioned to its Sam’s Club division as president and CEO to advance digital technology and improve shoppers’ experience, a news release mentions. She also took on the role of the chief operating officer (COO) of Starbucks Coffee Company from 2017 to 2021. Her contributions included...

Samantha Dorisca

Apr 5, 2024

Nas, Resorts World NYC Unveil A $5B Proposal He Says Could Give 'New Opportunities To The Hard-Working Families' In His Hometown Of Queens

Nas is spearheading a plan to change the landscape of New York City. The music icon has partnered with Resorts World Casino New York City and its parent company, Genting America East, to revitalize his beloved Queens neighborhood. As reported by Commercial Observer, Genting America East executives, including the artist, shared plans for a $5 billion redevelopment endeavor to transform the Resorts World establishment into a “Las Vegas-style casino.” The blueprint for the project includes amenities such as 30 new opportunities for food and beverage vendors, a 7,000-seat performance space, and 1,600 new hotel rooms inside the existing Hyatt Regency at John F. Kennedy International Airport. Genting America East also proposed a 350,000-square-foot extension of the Resorts World casino floor. If approved, the move would position the casino as the largest gambling establishment globally, per the outlet. Beyond revenue-generating additions, the proposal includes housing units that could...

Michelle Burk

Mar 1, 2024

Herman Moore Went From NFL Player To Franchisee Of All Cinnabon Stores In Michigan And Florida During The Early 2000s

The humble beginnings of Herman Moore were not going to stop him from achieving greatness, even beyond his playing days in the National Football League (NFL). According to Detroit Free Press, the former Detroit Lions player was taught by his mother the habit of looking at life from a broader perspective, a practice he maintained even in the face of financial difficulties. “She had me at 21 and worked so many jobs,” Moore told the outlet about growing up in Danville, VA. He continued, “We were a low-income family. We lived on less than $18,000 a year. But she made sure my sister and I always knew the endgame. We lived in government housing and were on food stamps, but that is not an excuse to not excel in life and to also help others.” Moore would lay his own foundation for generational wealth-building in 1991 after being drafted to the Detroit Lions and signing a three-year $2.4 million contract with the team, which included a $1.2 million signing bonus, according to Spotrac. Moore...

Samantha Dorisca

Feb 9, 2024

Aliko Dangote, The World's Richest Black Man, Opens $19B Dangote Petroleum Refinery

It appears things are officially in motion for Aliko Dangote’s new business project.

Ngozi Nwanji

Jan 22, 2024

Mellody Hobson's Ariel Alternatives Buys Majority Stake In Multicultural Media And Advertising Company My Code

There are new strides being taken by Ariel Alternatives co-founders Mellody Hobson and Leslie A. Brun.

Samantha Dorisca

Dec 5, 2023

Daymond John's Mom Took Out A Loan To Invest In Him — Now He's Helping Other Black Entrepreneurs Gain Access To Funding

Entrepreneurship is a long, arduous journey that’s rarely linear. And, for Black entrepreneurs the process can be even harder. It’s no secret that minorities and female founders often struggle to secure capital when compared to white male founders. Even attracting as much visibility in mainstream media as other businesses — including social media growth — can be harder. Plus, not having a network of fellow entrepreneurs who understand the challenges can make the entire experience lonely. Daymond John, a serial entrepreneur, understands this process all too well. From his days launching the iconic streetwear apparel brand FUBU to parlaying his business acumen into the investor niche, John learned from his growing pains. Now, he wants to help other Black-owned businesses navigate those issues. From Hollis, Queens, To The Tank Today, John is a household name, thanks to his tenure on the ABC’s “Shark Tank.” But many people are familiar with him from FUBU, a streetwear brand he started...

Rick Ross' Cattle Ownership Might Be Grounds For A Serious Tax Exemption — Here's How

Rick Ross has not been dubbed the biggest boss by playing it safe. Take, for example, his latest agricultural endeavors, which include the purchase of a cow, a lion, and a lioness, as well as two buffalos — gifted by clothing and underwear brand Ethika — TMZ reports. “We are gifting Ross these Buffalo after a conversation at his birthday party back in January. I wanted to get him a giraffe but he wasn’t ready for that commitment so he said let’s start smaller, like a cow. I said ‘Nah, everyone has cows, I want you to have something nobody in your state has, I’m getting you a Buffalo,’” Darius Burton, director of brand operations at Ethika, told TMZ.  

Shanique Yates

Jul 21, 2022

In 2030, Allen Iverson Will Reportedly Land A $32M Payday Thanks To His Lifetime Deal With Reebok

The phrase “greatest of all time” is used loosely. However, when it comes to Allen Iverson, his name is synonymous with GOAT — period. Iverson has achieved great feats within the NBA, including consistently leading his teams to the playoffs and even a stint in the finals, but as a person, he has continued to defy all odds, remain humble, and most importantly, show love where it’s due. As previously reported by AfroTech, there was once a time when Allen Iverson blew through $200 million, yet he still landed on his feet. Today, Allen Iverson reportedly has a $1 million net worth, according to Celebrity Net Worth. Plus, he’s about to reap the rewards of a lifetime deal with Reebok. In most instances, people may dread the thought of growing older, but in this case, the next few birthdays for Iverson will lead him to a huge payday. On his 55th birthday, the Newport News, Virginia native will receive $32 million, thanks to a lifetime deal he has with Reebok, FadeAwaySports reports. Let’s...

Shanique Yates

Jul 14, 2022