Grill King Foreman Tries On Clothes Line

NYDailyNews.com | Nancy Dillon
July 9, 2003
http://www.nydailynews.com/archives/money/2003/07/09/2003-07-09_grill_king_foreman_tries_on_.html

Heavyweight champ George Foreman is punching up his endorsements resume with an exclusive contract from big and tall men's clothing retailer Casual Male.

Foreman, an undisputed giant at 6-feet 4-inches and more than 250 pounds, will get his own signature line of apparel and accessories at Casual Male set to launch next year.

He'll also front a national ad campaign aimed at extending the chain's 5% share of the $7 billion big and tall men's apparel market.

Foreman's fee is believed to include a minimum annual payment and royalties.

"It's probably worth about $500,000 to $1 million per year to George," said Bob Williams, president of Burns Sports & Celebrities.

Foreman has already pulled in more than $137 million promoting Salton's line of household appliances that include the wildly popular George Foreman Lean Mean Fat-Reducing Grilling Machine.

Casual Male cited Foreman's "unparalleled track record as a product endorser" as motivation for the deal.

"I know that clothes make the man, and I'm thrilled to be working with Casual Male to make the clothes," Foreman, 54, said in a statement.

"George has had aspirations of starting his own clothing line, and I think [Casual Male] knew that and contacted him," said Steve Denault, senior research analyst at Craig-Hallum Capital. "He means a lot to a lot of people, so he'll be a great endorser."

Foreman captured the hearts and minds of sports fans everywhere when, at the age of 45, he became the oldest heavyweight champion in boxing history. He knocked out 26-year-old Michael Moorer on Nov. 5, 1994, regaining the title he'd lost 20 years earlier.

Foreman is following the footwork of other sports celebrities with signature clothing lines, including pro golfers Greg Norman and Arnold Palmer.

"They can make tens of millions of dollars if the lines take off," said Brandon Steiner of Steiner Sports.

Casual Male, with 476 stores including seven in the city, gained 12 cents-a-share yesterday to close at $6.02.



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