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NBA star James Harden takes stake, board seat in luxurious retailer Saks

James Harden #13 of the Brooklyn Nets handles the ball towards the Boston Celtics in Sport One of many First Spherical of the 2021 NBA Playoffs at Barclays Heart at Barclays Heart on Might 22, 2021 in New York Metropolis.

Steven Ryan | Getty Photos

NBA celebrity James Harden is a brand new investor in luxurious retailer Saks, the events introduced on Monday.

Harden bought a minority stake and can turn out to be a member of the Saks’ board, the place he’ll advise on rising “high-potential shopper manufacturers” and assist increase its e-commerce platform, in response to the announcement. Phrases of Harden’s funding weren’t made obtainable.

“I’m honored to affix the Saks board and to be part of an organization that’s paving the way forward for luxurious retail,” Harden mentioned in an announcement. “That is an thrilling alternative for me to mix two of my private passions – a love of trend and teaming up with manufacturers which have the potential to steer whereas making an affect on the communities they serve.”

Harden, a star on the Brooklyn Nets, is without doubt one of the extra trendy gamers within the NBA and has garnered a following among the many league’s youthful followers through social media partnerships. Harden, 31, is in good place to leverage his cultural affect, identify, picture and likeness to drive new enterprise to Saks and assist launch clothes manufacturers.

Ramin Talaie | Bloomberg | Getty Photos

Harden has beforehand made investments in beverage firm BodyArmor, private hygiene firm Artwork of Sport, and Main League Soccer’s and the Nationwide Girls’s Soccer League’s Houston franchises.

“As we work to construct this new board, James is a crucial and precious addition,” Saks’ chairman Richard Baker mentioned in an announcement. “With expertise in rising companies and as somebody who values self-expression by means of trend, I’m assured that he’ll deliver a definite viewpoint that can assist us higher ship for our clients.”

Harden will make $44 million for the 2021-22 season, a part of a four-year $171 million extension he signed in 2017 with the Rockets. He was traded to the Nets in January.

In six video games within the 2021 postseason, Harden is averaging 23.2 factors and eight.8 assists. He suffered a hamstring harm in Sport 1 of the present playoff spherical towards the Milwaukee Bucks. The Nets-Bucks sequence is tied 2-2 with Sport 5 on Tuesday.

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