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SOURCE: hollywoodreporter.com
Kevin Hart the actor and comedian wants Kevin Hart the brand to outlive is career in Hollywood.
Hart on Tuesday inked a wide-ranging deal with Authentic Brands Group, giving the IP licensing giant rights to his name, with Hart becoming a shareholder in the firm. Hart and ABG will co-manage the “Kevin Hart” brand, bringing it to new verticals and business areas, including consumer products, digital platforms, and live experiences.
“This partnership is about acceleration, growth and diversification. I’ve spent years building businesses and creating opportunities, and joining Authentic gives me the platform and global infrastructure to take my brand to the next level,” Hart said in a statement. “Becoming a shareholder allows me to co-own some of the most recognizable IP of all time while building my own brand legacy. I want the Hart name to live on for generations to come and be something that my grandkids and their grandkids will be able to be proud of.”
Authentic has cut deals with other celebrities and public figures, including Shaquille O’Neal, David Beckham, and the estate of Muhammad Ali, as well as deals for brands in the world of fashion and sports, including Reebok, Prince, Champion, Eddie Bauer, and Sports Illustrated.
The company leverages its brands to create new products and merchandise, as well as to license it for uses in digital media, hospitality, and other areas (there are Sports Illustrated resorts, for example). Authentic says that the brands it controls generate $32 billion in annual systemwide retail sales worldwide.
“Kevin is one of the most dynamic entertainers and entrepreneurs of our time,” said Jamie Salter, Founder, chairman and CEO of Authentic. “His creative vision, business instincts and cultural impact are unmatched. Kevin sees what we see: the power of brand ownership and the opportunity to build a global, long-term business. His investment in Authentic also reflects our mutual confidence and shared vision for that growth.”
Corey Salter, President of Entertainment and International at Authentic, added, “Our strategy has always been to partner with visionary leaders who are building brands with long-term global relevance. Kevin represents the future of entertainment-driven IP, and together we will expand his brand across new categories and geographies, strengthening the entire Authentic network.”
