Earvin Magic Johnson may be known for being a legendary NBA player, but he’s also quite the businessman—Johnson has owned everything from movie theaters and a production company, to over a hundred Starbucks cafes. He’s even invested vastly in real estate and financial companies.
Considering that, it shouldn’t come as too much of a surprise to hear that Johnson is entering a whole new arena—skin care. Johnson has invested in Walker & Company, a growing beauty and skin care brand that caters especially to people of color. Johnson posted the following announcement on his official Twitter handle: “I love what this company stands for, proud to be an investor in @walkercobrands – excited for what’s next!” He also included a link to the company’s press page, which mostly includes news stories and media appearances about the company’s founder, Tristan Walker.
Earlier today, Walker announced via the web site that the company has earned a whopping $24 million in additional financing, thanks to a long list of corporate investors, including Google Ventures (Google’s capital investment arm). According to the announcement, the influx of funding is also thanks to several individual investors—in addition to Magic Johnson, singers John Legend and Ryan Leslie have also reportedly invested, along with Jed York (owner of the San Francisco 49ers), Paraag Marathe (49ers president), and current NBA player Andre Iguodala.
Although there’s no mention of how the celebrity involvement will play into the future direction of the company, having big names like Magic Johnson behind it can definitely work to its advantage. A skin care line backed by the NBA great—or even marketed with his name—could open a lot of doors to a whole new group of possible consumers.
Earvin Magic Johnson, Twitter post, September 28, 2015, 10:24 a.m.
“Page 1, Chapter 1,” Walker & Company web site, September 28, 2015