MusclePharm adds Tiger Woods to stable of endorsers
MusclePharm, based in Denver, markets a complete line of protein powders, preworkout products and supplements. The company has been growing rapidly. It reported more than $50 million in earnings in its last quarterly statement, with 123% year-over-year growth. The company's stock price jumped more than 10% after the announcement.
The deal figures into MusclePharm’s overall strategy of allying itself with the biggest names in sports. Last year the company launched a line of supplements co-branded with Arnold Schwarzenegger, the biggest name in the business. The launch of those products in the most recent quarter was highly successful, accounting for 30% of sales. The company also reported moving over into profitability for the first time, and reasserted its full-year sales growth guidance at 33%.
The company also counts San Francisco 49ers quarterback Colin Kaepernick and New York Jets wide receiver Eric Decker among its endorsers. MusclePharm co-founder and CEO Brad Pyatt is himself a former NFL player.
