{"id":595827,"date":"2023-01-09T12:52:08","date_gmt":"2023-01-09T18:52:08","guid":{"rendered":"https:\/\/news.sellorbuyhomefast.com\/index.php\/2023\/01\/09\/the-company-managing-messis-lifestyle-brand-plans-to-build-on-his-world-cup-success-with-a-nasdaq-ipo\/"},"modified":"2023-01-09T12:52:08","modified_gmt":"2023-01-09T18:52:08","slug":"the-company-managing-messis-lifestyle-brand-plans-to-build-on-his-world-cup-success-with-a-nasdaq-ipo","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2023\/01\/09\/the-company-managing-messis-lifestyle-brand-plans-to-build-on-his-world-cup-success-with-a-nasdaq-ipo\/","title":{"rendered":"The company managing Messi\u2019s lifestyle brand plans to build on his World Cup success with a Nasdaq IPO"},"content":{"rendered":"
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\"Messi<\/p>\n<\/div>\n

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Messi\u2019s Argentina jersey sold out after the country\u2019s World Cup win, with some resellers pricing the iconic blue and white kit as high as $500. <\/figcaption>
Image: Julian Finney (Getty Images)<\/figcaption><\/p>\n<\/div>\n

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The company managing Lionel Messi\u2019s clothing and lifestyle brand was set to mark Nasdaq\u2019s first IPO of the year on Friday (Jan. 6), hoping the soccer superstar\u2019s dazzling display at the World Cup last month will embolden investors. (Update: the IPO has been postponed, with a new expected date set\u00a0for Jan. 13<\/a><\/span>).<\/p>\n

MGO Global, which aptly picked MGOL as its stock ticker, plans to price 1.5 million shares at $5 each and raise about $7.5 million at a $66 million market cap.<\/p>\n

It\u2019s a lofty goal for the company, co-founded in 2018 by Argentina-born Maximiliano Ojeda and US designer Ginny Hilfiger, the sister of famed fashion designer Tommy Hilfiger. MGO currently counts only Messi as its client, which makes its success dependent on the athlete\u2019s performance and enduring collaboration. Although Messi is the face of his namesake brand, he is not a shareholder in the business. Instead, their contract stipulates he receives 12% of sales<\/a><\/span> with a minimum guarantee of $4.2 million over three years.<\/p>\n

\u201cWhile it is our intention to pursue growth and expansion of our brand portfolio in the future, we currently are not negotiating or have any probable agreements to add additional assets to the Messi Brand in our portfolio at this time,\u201d MGO wrote in a filing to the Securities and Exchange Commission (SEC).<\/p>\n

MGO also operates in a crowded, competitive industry. The company itself does not produce any athletic gear, as Adidas holds the sole rights to any Messi-themed footwear or jerseys. In the SEC filing, the company also acknowledges it has yet to be profitable: \u201cWe have a history of operating losses and may continue to incur losses for the foreseeable future. We may not be able to generate sufficient net sales to achieve or maintain profitability.\u201d<\/p>\n

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G\/O Media may get a commission<\/p>\n

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\"Ring<\/picture><\/div>\n
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$50 off preorder<\/p>\n

Ring Car Cam<\/p>\n<\/div>\n<\/div>\n

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It’s a camera. For your car.<\/strong>
The Ring Car Cam’s dual-facing HD cameras capture activity in and around your car in HD detail.<\/span><\/p>\n<\/div>\n<\/div>\n<\/div>\n

<\/a>MGO Global\u2019s accelerated rise<\/h2>\n

2018:<\/strong> MGO Global is co-founded by Ginny Hilger and Maximiliano Ojeda, with the aim of leveraging the \u201cfame, celebrity power, and global social media influence of world-class athletes, entertainers, and other cultural icons.\u201d<\/p>\n

2019:<\/strong> MGO acquires the Messi Brand, a clothing and accessories line inspired by Lionel Messi, currently the company\u2019s sole asset.<\/p>\n

2022<\/strong>: MGO files an $8 million IPO, backed by Boustead and Sutter Securities.<\/p>\n

2024<\/strong>: Messi\u2019s current licensing contract with MGO ends, encompassing all of MGO\u2019s current products.<\/p>\n

<\/a>Person of interest: Lionel Messi<\/h2>\n

Messi\u2019s star power has surely never been stronger. His Instagram post celebrating Argentina\u2019s victory at the Qatar World Cup last month became the most popular photo<\/a><\/span> in the app\u2019s history, receiving more than 74 million likes (by comparison, Argentina\u2019s population is 45 million people). Messi\u2019s home province of Santa F\u00e8 saw the number of newborns named Lionel and Lionela increase by more than 50%<\/a><\/span> in December compared to the previous month, and the soccer star is also leading recent polling for the Argentine presidential election scheduled later this year by double digits<\/a><\/span>.<\/p>\n

But Messi\u2019s future, for now, appears to remain in sports. A free agent this June, multiple outlets have speculated<\/a><\/span> that Messi is headed to the MLS, as David Beckham\u2019s Inter Miami FC aggressively attempts to sign the seven-time Ballon d\u2019Or winner. However, after his recent success, some reports<\/a><\/span> say Messi is considering a one-year extension at Paris St. Germain (PSG), his current club, to chase further success in the UEFA Champions League.<\/p>\n

<\/a>Related stories:<\/h2>\n

???????? The World Cup final is refocusing the spotlight on Qatar\u2019s soccer investments in France<\/a><\/span><\/p>\n

???? Soccer players are teaching CEOs how to handle this crisis<\/a><\/span><\/p>\n

\u26bd Messi and other soccer stars avoid taxes by exploiting a basic human right<\/a><\/span><\/p>\n

This story has been updated with a new date for the IPO, which was postponed after publication.<\/em><\/p>\n<\/div>\n

Read More<\/a>
\n Diego Lasarte<\/p>\n","protected":false},"excerpt":{"rendered":"

Messi\u2019s Argentina jersey sold out after the country\u2019s World Cup win, with some resellers pricing the iconic blue and white kit as high as $500. Image: Julian Finney (Getty Images)The company managing Lionel Messi\u2019s clothing and lifestyle brand was set to mark Nasdaq\u2019s first IPO of the year on Friday (Jan. 6), hoping the soccer<\/p>\n","protected":false},"author":1,"featured_media":595828,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[147,1226],"tags":[],"class_list":{"0":"post-595827","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-company","8":"category-managing"},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/595827","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/comments?post=595827"}],"version-history":[{"count":0,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/595827\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media\/595828"}],"wp:attachment":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media?parent=595827"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/categories?post=595827"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/tags?post=595827"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}