Kevin Durant isn’t the only Brooklyn Nets star who has now gone from the hardwood to the Boardroom.
That may be the name of Durant’s podcast/media conglomerate bringing fans inside the business of sports, but the actual board room is now a home for James Harden, who has joined the Board of Directors for Saks, according to Bloomberg.
Saks, singular, is the new standalone e-commerce business that is separate from Saks Fifth Avenue stores, and now also counts Harden as a minority investor as well.
“I’ve spent a lot of time with James talking about fashion,” Saks Executive Chairman Richard Baker told Bloomberg. “It’s good to have board members and ownership that are focused and motivated to grow the business.”
Harden’s portfolio of business ventures of course includes his Adidas shoe and apparel line, but also counts BodyArmor drinks, Pura fragrances, and Stance socks among its roster. The Beard also owns minority stakes in two soccer teams in his old stomping grounds of Houston, the MLS’ Dynamo and NWSL’s Dash.
Now, he joins a burgeoning e-commerce player, which was spun off by Saks Fifth Avenue owner Hudson’s Bay Company earlier this year with a valuation of $2 billion.
Harden is one of four newcomers to the all-male seven-member board, the other three being venture capitalists, and according to Bloomberg’s report, Saks CEO Marc Metrick told employees in a memo Monday that the board is being assembled to “make sure it represents a variety of perspectives and experiences,” and that Harden “brings expertise in helping to grow high-potential consumer brands combined with a unique perspective as a notable fashion enthusiast.”
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