The Australian Open starts next week, but even if Maria Sharapova gets bounced in the first round she is off to a hot start in 2013. Why? Because her candy line, Sugarpova, has been killing it for the four-time Grand Slam champion.
According to a Bloomberg report, Sharapova is set to more than double her initial investment in the candy company in just the first year as projections skyrocket for the gummy candy introduced in the United States in August.
Sharapova put up $500,000 for the candy company, chump change for an athlete as marketable as the 2012 French Open champion, but the 25-year-old gets somewhere around $1.10 per bag sold of the $5.99 bag of gummy candy and people seem to be interested.
We don’t really have a big budget at all for marketing and advertisement,” Sharapova said. “So it’s pretty incredible that the awareness that it has so far is where it is."
How is it taking off? I hope you're sitting down, but social media has been a huge help.
If it was me, and I made $1.10 off every bag of this candy sold, I'd be sitting in candy shops wherever I went pushing this stuff like a guy with watches inside his jacket. (And Maria, articles this are like probably helping you out so, ya know, a little something for the effort?!)
Sharapova might have name brands accredited to her fame, but having your own business set to do this well has to feel good.
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