Team Insight

We were seeking to raise funds for a bridge round and had several conversations with individual investors as well as funds. One of the fund managers passed on the opportu- nity due to the fact that it didn't meet their investment criteria, but forwarded our infor- mation over to CP3 Investment group. Aer having conversation with Chris' team, they decided to invest in our company. Chris has investments in a number of companies that play in our space and it creates some great synergies. We also have consulted with CJ Paul as we look to expand our distribution. SV Sports is one of the very few minori- ty-owned businesses in team sports and sporting goods retail. Why do you think that is and how are you addressing that? It all revolves around access. e accessibility of ownership has eluded many minorities. While we created the culture of sneakers and make up a large percentage of the talent in professional athletics, it never translated into owning the distribution points. How is that changing now? We are seeing things change as athletes recognize the inuence that they have and are creating their own brands by using their platforms. e NIL ruling will allow for more of this brand expansion. However, those that aren't physically gied need to know that they too can have a career in sports. But they need to see someone that looks like them doing it. In an earlier article in Team Insight Extra about SV Sports we wrote: "The three executives came together to capitalize on the opportunity to inject cultural relevance into the team dealer model and deliver empowerment opportunities to diverse communities." Can you expand on that a little? SV Sports wants to be to Performance what Sneaker boutiques are to lifestyle. Boutiques are where brands go to create hype. We want to serve as the "tip of the spear" for brands that want to bring cool and culturally relevant performance product to the marketplace. Our un- derstanding of the athlete and their journey serves as a catalyst to do this. Finally, where do you see SV Sports in five years? In ve years we anticipate SV Sports generating $125 million in topline reve- nue and $10 million in EBITDA. What's the game plan to accomplish that goal? is will be done through expansion both or- ganically and through acquisitions. ese ac- quisitions will be both in talent and the purchase of existing team dealers. e landscape is contracting to just a few players in the space and we feel that our strategy is sound and will allow us to change the dy- namic of how athletes are being serviced. teaminsightmag.com May/June 2022 ~ Team Insight • 11 JOHN SCIPIO, CEO John is a former Nike executive who served various leadership roles across a 25-year career. His last role was as the senior sales director, managing Nike's $2 billion City Specialty channel; he also managed the $70 million eastern region of Nike's Team Sales channel, which included SV Sports. SV SPORTS' PLAYERS JASON LUTZ, PRESIDENT As CEO of Villa, Jason took his parents' sporting goods store and turned it into one of the most influential lifestyle footwear and apparel retailers in the U.S. During his time with Villa, the retailer gained the distinction as one of Nike's T-11 City Specialty accounts while growing to more than 125 locations and $250 mil- lion in revenue. RALPH GREENE, CMO Ralph's Nike career included serving as GM of Nike's East Coast Region and as VP/GM of Nike Sportswear and Nike Football. Ralph led some of the most groundbreaking initia- tives in Nike history, including the first All-School deals with USC and Ohio State as well as signing Kobe Bryant, Tiger Woods and Yao Ming.

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