NBA Pro James Harden and Saks announced this week that the NBA Brooklyn Nets star will join as an independent member on the Saks board along with becoming a minority investor in the newly formed company. Once the deal was announced, Harden stated “I am honored to join the Saks board and to be a part of a company that is paving the future of luxury retail. This is an exciting opportunity for me to combine two of my personal passions- fashion and teaming up with brands that have the potential to lead-while making an impact on the communities they serve.”
While Harden might be better known for his skills on the basketball court, he adds to his already extensive business portfolio that includes minority ownership of Major League Soccer’s Houston Dynamo and the National Women’s Soccer League’s Houston Dash, along with various brands, including BodyArmor, Stance, Therabody, Art of Sport, and Pura. Oh, and not to forget his sneaker and apparel deal with Adidas.
In a press release, Sak’s Executive Chairman, Richard Baker said, “As we work to build this new board, James is an important and valuable addition. With experience in growing businesses and as someone who values self-expression through fashion, I am confident that he will bring a distinct point of view that will help us better deliver for our customers. His expertise, combined with that of our other board members, will enable Saks to further capitalize on the significant growth opportunity within luxury e-commerce.”
In the recent months Saks has been cutting back on their brick-and-mortar Saks stores and focused on their digital business. The company has since raised new debt capital to help grow and make a bigger presence online with an end goal of building “a hybrid retail and marketplace platform.”