THE MORNING BRIEFING ...
TENNIS
M
aria Sharapova finished last season inside the top 5 in women’s tennis for the first time since 2007. At Nike Inc.’s Cole Haan unit, she’s No. 1.
The fourth-seed at this year’s Australian Open suffered a serious shoulder injury in 2008 after winning in Melbourne, the third of her major titles. The time off gave the 24-year-old a chance to pursue another interest: fashion.
She was forced into a ninemonth break from the game in mid-2008 because of shoulder surgery, giving her a chance to focus on something other than tennis, the Russian said. Her first Cole Haan collection was introduced in the spring of 2009.
The $148 flat ballet shoe she designed is one of the best sellers for the Nike wholly owned subsidiary.
“It was really an experiment for me, ”said Sharapova, who gets a percentage of sales from both her Cole Haan line and a collection of Nike tennis dresses, which she also designs. “I certainly did not think I would be making any money from this because I had zero experience.”
Sharapova won her first major at Wimbledon age 17 in 2004. Grand slam titles followed at the 2006 U.S. Open and the 2008 Australian Open, making her the highest paid female athlete in the world.
The Russian, who moved to the U.S. at age seven, earns $25 million a year from prize money and endorsements with companies including Nike Inc. and Swiss luxury watch brand Tag Heuer, according to Forbes. In tennis, only 16-time major winner Roger Federer and second-ranked Rafael Nadal earn more.
Having dropped to No. 126 three years ago following surgery, Sharapova last year climbed back up the rankings thanks to a semifinal spot at the French Open and a runner-up place at Wimbledon. She also won in Rome and Cincinnati.
Sharapova gives Nike and Cole Haan access to a global audience, Nigel Currie, director of London-based sports marketing agency brand Rapport said in an interview.
“There are very few sports stars, in particular in women’s sports, that are instantly recognizable around the world, and Sharapova is one of them, ”currie said.