UConn Strikes Multimillion-Dollar Partnership with Madison Reed
The University of Connecticut (UConn) has recently announced a groundbreaking partnership with beauty brand Madison Reed. This collaboration encompasses a wide range of initiatives, such as court-naming rights, name, image, and likeness (NIL) deals, and career development opportunities. While the exact financial details of the deal remain undisclosed, Madison Reed has confirmed that it falls within the multimillion-dollar range.
One of the key aspects of the partnership involves Madison Reed’s sponsorship of UConn’s Gampel Pavilion and XL Center, which will include court-naming rights for the next three years. These venues are where both the men’s and women’s basketball teams compete. Additionally, Madison Reed has signed NIL deals with four prominent UConn women’s basketball players: Paige Bueckers, Azzi Fudd, Ice Brady, and Morgan Cheli. Under these agreements, the players will act as brand ambassadors and will showcase Madison Reed hair color throughout the duration of the partnership.
Madison Reed, a hair color company founded in 2013, offers a wide range of products for home and salon use. Its products are widely available across the nation, with distribution channels including Amazon, Ulta Beauty, Target, and Walmart. The brand’s founder and CEO, Amy Errett, who is an alumna of UConn, expressed her enthusiasm for the partnership, stating that it holds a special significance for her personally. She believes it is crucial to shed light on women athletes and create opportunities for them both on and off the court.
Errett also sees this collaboration as a strategic business move for Madison Reed. The brand aims to capture the market of women aged 18 to 44, 78% of whom color their hair, by appealing to fans of women’s sports. By leveraging the visibility and popularity of UConn’s basketball teams, Madison Reed hopes to attract a larger customer base.
UConn’s basketball program has an impressive track record, with a combined total of 17 national championships won by the men’s and women’s teams. The women’s team, in particular, is led by star guard Paige Bueckers, who is currently in her senior season and is expected to be the top draft pick in the upcoming WNBA draft. Errett anticipates that this partnership will generate significant attention for UConn’s basketball program, thereby increasing awareness of women’s sports on a broader scale.
In addition to the NIL deals, Madison Reed will also provide mentorship opportunities, internships for class credit at UConn, and potential opportunities for the athletes to franchise a Madison Reed Hair Color Bar in the future. Furthermore, the four players involved in the partnership will receive cash and equity in Madison Reed. Errett emphasizes that the company aims to provide a holistic approach, setting the athletes up for success not only during their playing careers but also in their future business endeavors.
Paige Bueckers, one of the athletes partnering with Madison Reed, kicked off the collaboration by transforming her hair color from blond to “sparkling rose” using Madison Reed ColorWonder dye. Bueckers, known for her long, blond locks, revealed that she has been dyeing her hair since eighth grade. She expressed her excitement to promote the brand and keep fans guessing about her hair color, even considering allowing fans to vote on future colors. Bueckers hopes that her willingness to express herself through her hair will inspire others to embrace their individuality and not be afraid to try new things.
Overall, the partnership between UConn and Madison Reed represents a significant step forward in supporting women athletes and providing them with new opportunities. By combining sports and beauty, this collaboration aims to empower female athletes and highlight their accomplishments both on and off the court.
