AND1 is a footwear and clothing manufacturer based in the United States. It primarily sells basketball shoes, sporting products, and clothes. Seth Berger, Tom Austin, and Jay Coen Gilbert started the company on August 13, 1993. American Sporting Goods purchased the company in 2005 and it was eventually sold to Brown Shoe Company in February 2011. AND1’s net worth is estimated to be $140 million in 2022.
The Beginning of AND1
In 1993, three University graduate students named Seth Berger, Tom Austin, and Jay Coen Gilbert presented their graduate school research called AND1. Initially, the group sold T-shirts from the back of their car.
The three founders then used early advertising methods such as trash talk and basketball slogans such as “Pass, Save Yourself The Embarrassment.” The brand also targeted street basketball players with their T-shirts.
Following that, the American sportswear retailer Foot Locker began selling its T-shirts. Their company subsequently expanded enormously, reaching 1500 locations across the United States.
Stephon Marbury, a professional basketball player, was named the company’s first spokesman in 1996. Marbury eventually signed on as a spokesperson for the company’s first pair of basketball footwear.
According to their official website, AND1 began in the summer of 1993 in Philadelphia as a graduate school project by Jay Coen Gilbert, Seth Berger, and Tom Austin. They were selling t-shirts from the backseats of their cars at the time.
The company quickly became famous for its “trash talk” slogan t-shirts, which had lines from ordinary street basketball language emblazoned on the front. However, in 2005, twelve years after its inception, the trio of owners decided to cash out and sell AND1.
Kevin Garnett, a basketball legend, is the company’s creative director and international spokesman. So, let us learn more about its founders:
- Jay Coen Gilbert is the first
According to The Aspen Institute, Jay Coen Gilbert is the executive co-chair of Imperative 21, a nonprofit organization that aims to “change the operating system, culture, and practice of business,” and the founder of B Lab. This nonprofit organization supports the global B Corporation movement.
Jay has also received the McNulty Prize from the Aspen Institute and the Skoll Award for Social Entrepreneurship.
- Seth Berger is number two.
According to BillyPenn, Seth Berger decided to spend more time with his family after profiting from the sale of AND1. However, about ten years later, he launched another company called Living Simple.
Joshua Harris, a point guard for the New York Knicks, and Seth worked together to create a line of wallet-style phone covers.
- Tom Austin is number three.
Tom Austin’s current personal life is unknown; however, we can learn about his work life by visiting LinkedIn.
We can see that Tom is currently the CEO and co-founder of Masterchats. This company provides “personal, adaptive coaching” delivered by “a digital version of their favorite thought leader” chosen by users. He also contributes to LinkedIn articles.
Net Worth of AND1
AND1 earns around $140 million (as per legitnetworth) in revenue every year. The corporation primarily sponsors NBA athletes and has many AUU teams picked as brand ambassadors. AND1’s parent business is Galaxy Universal, headquartered in Broadway Ste, New York.
Netflix Announces the Documentary “The Rise and Fall of AND1”
Netflix has announced a planned documentary on the cultural phenomenon that was AND1. AND1 was a sports brand that once spanned the gap between basketball, hip-hop, fashion, and urban culture. The Rise and Fall of AND1 will be directed by Kevin Wilson Jr., nominated for an Academy Award, as part of the streaming service’s UNTOLD series.
The film will explore the brand’s origins, from a glorified school project to a multimillion-dollar enterprise that helped bring the street ball to the mainstream with its AND1 Mixtape Tour.
Wilson Jr. told Complex, “To tell the tale of And1, you must tell the story of tenacity, passion, perseverance, and an unending love for the game of basketball.”
“Not only is this the story of streetball legends who sparked a culture-shifting movement and fulfilled their aspirations of getting paid to shoot hoops at a time when practically everyone shut them out, but it’s also the narrative of how they did it.”
It is also the story of ordinary people worldwide who, thanks to And1, finally have access to the excitement and chaos of high-skilled, high-energy basketball in person.”
IN 1999, AND1 used NBA stars like Darrell Armstrong, Ab Osondu, Miles Simon, and Toby Bailey in their initial print ads and commercials run. However, their usual marketing approach was a failure.
Then they switched tactics and used Skip tape, a videotape created by Rafer Alston, a streetballer. Following that, the company allied with FootAction.
Only eight years after its founding, the footwear company AND1 grew to become the second-largest basketball brand in America. American Sporting Goods purchased the company in 2005, and Brown Shoe Company purchased it in 2011.
In August 2011, it was sold to Galaxy Brands. The brand was later merged with Sequential Brands Group. In August 2013, the brand honored its 20th anniversary by hosting the AND1 Labor Day Summer Remix.
In November 2012, the firm signed then-Pacer Lance Stephenson to an endorsement contract. The professional basketball player had won the NYC high school basketball championships all four years.
In 2015, the brand collaborated with SLAM magazine to sponsor several events in conjunction with the 2015 NBA All-Star Game. More than 100 AND1 high school and AAU teams compete in various leagues and tournaments across the United States.
The narrative of AND1’s rise and fall has been the topic of Netflix’s documentary series “Untold: The Rise and Fall of And1.” The docuseries delves into the company that rose to the top of basketball and culture before fading into obscurity.
The company’s innovative marketing strategies fueled its stratospheric rise, eventually becoming one of the world’s most famous basketball brands.
However, the company’s success was short-lived, as it plummeted due to various factors, including its main competition, Nike. Similarly, the brand made an enormous misstep after signing their first NBA star, Stephon Marbury, who fell awkwardly and injured his ankle. When the tragedy occurred, the company was still in its early stages.
AND1’s endorsements also contributed to the company’s demise differently. After they removed their mixtapes, they assembled an elite team of streetballers and brought them on summer tours across the United States.
The tour was also broadcast on ESPN2’s Streetball half-hour feature. After a brief sabbatical, they returned in 2010 with their Mixtape Tour, dubbed the AND1 Live Streetball Tour.