Is AND1 Still in Business? How Much Was It Sold For?

Netflix’s ‘Untold: The Rise and Fall of AND1’ chronicles how three graduate school students, Jay Gilbert, Seth Berger, and Tom Austin, were influenced by street basketball and launched their sportswear brand, AND1, which grew popular overnight. This documentary is fascinating and takes a deep dive into the beginnings of AND1. It follows the story as AND1 rose to the top and launched a basketball team. All good things must come to an abrupt end. And just like its sudden rise in popularity, AND1 experienced a surprising fall. But, many people were still curious after watching the Netflix documentary. Don’t worry, we have answers!

Is AND1 Still In Business?

Interestingly, AND1 sportswear brand was started in 1993 by Jay Coen Gilbert, Seth Berger and Tom Austin, who were all students at the University of Pennsylvania’s Wharton School. Jay, Seth and Tom knew it would be difficult to compete against established brands in the market. The trio didn’t even have a brick-and-mortar store to operate their business. But they didn’t give up and began selling sportswear out of their car. Moreover, AND1 was marketed primarily toward street basketball players, and the co-founders decided to use a lot of basketball lingo and “trash talk” in their campaign to make the brand appear more appealing.

Surprisingly the business was able to get off to a great start and Jay, Seth and Tom soon earned more than they could have ever imagined. The shirts were also purchased by Foot Locker sportswear retailer which helped to increase their business. AND1 also became more popular, and they were able to sign deals in basketball with some of the most prominent names. Meanwhile, the founders started an advertising campaign, distributing mixtapes containing a compilation on skills used by players.

The mixtape campaign became very popular and AND1 launched a competition and exhibition titled the AND1 Mixtape Tour. The company also had its own basketball team that featured top players from the United States. Unfortunately, the good times did not last and the brand lost most of its popularity that it had gained over the years. The decline was accelerated by one of their brand ambassadors, who got injured while wearing AND1 shoes, and the company’s revenue took a dive.

Jay, Seth, & Tom sold the company to pursue other opportunities. Viewers will be pleased to learn that AND1 is still operating and, despite changing ownership several times, it is well-known for its high-quality sportswear. A retail store is also owned by the company in Brooklyn. It sponsors many NBA athletes as well as Amateur Athletic Union and high-school teams.

How much was AND1 sold for?

screenshot 8 192

Interestingly, AND1’s ownership changed multiple times over the years. Its original founders, Jay and Seth, sold the company to American Sporting Goods in 2005 for an undisclosed sum. The Brown Shoe Company purchased American Sporting Goods (and all its subsidiaries) for $145 Million in February 2011. The Brown Shoe Company was unable to manage AND1 independently, and sold the company to Galaxy Brands, who paid $55 million. Subsequently, Galaxy Brands merged with the Sequential Brands Group, and the latter is currently responsible for running AND1’s business.

Read more: Seth Berger is the AND1 co-founder.

Leave a Comment