Business: Procure Worldwide
Client: Ring Inc. with Shaquille O’Neal
Specialising in strategy and the procurement of talent, experts, and influencers for commercial activations on both a local and global scale, the expertise of Procure Worldwide ranges from negotiating large scale global endorsements, equity share, partnerships, merchandising, licensing and sponsorship deals to devising and securing the right partners for talent led digital strategies, speaking engagements, expert panels, event appearances, voiceovers and more.
When an entrepreneurial start-up brand based out of Los Angeles contacted the agency to seek expertise on placing a renowned NBA star under contract, and make him a shareholder, they knew it would be an interesting but complex deal to work through.
Questions immediately surfaced: Would they have the available funds and be able to handle the process? This would be an intrepid move for the brand, and step by step counsel would be needed, alongside an innovative procurement strategy to ensure success for all.
Ring Inc. wanted to drive brand fame, and quickly. Procure Worldwide were well placed to help them achieve that. A deep dive into the brand equity, the dream and the success criteria with the CEO Jamie Siminoff was the first step.
The agency worked through the details, the budget parameters, the territory, the scope. This was to be a hybrid equity and fee deal.
Shaquille O’Neal’s background as an ex-cop and Ring Inc. a home security and smart home company who’d formed a strategic partnership with the LAPD to help tackle neighbourhood crime, made him a strong and rational talent choice. Talent services included walkabouts in areas of downtown LA to highlight the benefits of the product.
Procure Worldwide’s years of experience meant the deal was conducted from start to finish in just under five weeks, in time for Ring to announce the partnership to their key investors by an important date.
The partnership worked beyond measure for the brand with Ring selling to Amazon a few months later for a reported deal of $1bn.
This case study is featured in our UK Advertising Exports Report, which you can download here.