Tom Brady to Endorse UGG Shoes
Web Editor, "Mad Money"
When you think UGGs, you of course think of the iconic women’s shoes and boots. But did you know that the company that makes them, Deckers Outdoor, started as a men’s surf brand?
In an effort to reintroduce itself to the masculine demo, Deckers CEO Angel Martinez announced on Monday’s “Mad Money” that New England Patriots quarterback Tom Brady will endorse the shoes.
“We have decided that we needed to just get the word out there that it’s a brand for guys,” Martinez said, “give guys permission to wear UGG. And who better to give guys permission to wear UGG than … Tom Brady.”
“He’s the guy every guy I know wants to be,” Martinez said, adding that it is Brady’s “cool under pressure” quality that men want. “Guys like that.”
Martinez said Brady made the most likely spokesman because he’s been a longtime fan and wearer of UGG anyway, and that’s why Deckers approached him.
Cramer pointed out that this initiative was not in any of the research he did on Deckers, which means the potential sales aren’t yet baked into the share price. As a result, the initiative could be “huge.” Martinez agreed.
“We think there’s significant upside,” the CEO said. “We think that men love UGG every bit as much as women.”
For more of Cramer’s interview with CEO Martinez, including talk of business overseas and this holiday season, watch the video.
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