In March 2022, Adidas announced an NIL strategy that more closely resembled a campus ambassador program than a high-level endorsement: All 5,000 athletes who played for Division I Adidas teams were eligible to strike deals.

1. Name, Image, and Likeness Deals

Name, Image, and Likeness (“NIL”) agreements, which allow an individuals’ name, image, and likeness to be used to market and sell branded apparel, footwear, and other consumer goods are on the rise.

On July 1, 2021, the National Collegiate Athletic Association INCAA), the organization that regulates student athletics among about 1,100 schools in the United States, Canada, and Puerto Rico, reversed its long-standing rule that forbids college athletes from making money from their name, image, and likeness. NIL contracts are now the forefront of our sports and apparel division as many companies have invested substantial money in amateur level athletes.

NIL contracts come in all facets as the industry is not strictly regulated yet and are typically dictated by the terms of the parties’ agreement and the state legislation governing business registration and taxation. Some schools have implemented policies that seek to safeguard the reputation of their institution prohibiting affiliation with gambling, alcohol, or adult themed businesses.

Big corporations like Nike and Adidas used the time after the shift in rules to recruit college athletes in their investment plans for the future. With over $200 million already dispersed to amateur athletes in the past two years, this number is only set to increase in 2023 and beyond as the world fully recovers from the pandemic years.

Our mission is to provide financial education, monetization, and compliance services to our collegiate clientele in NIL deals or contracts with our company, affiliates, and clients.

2. Negotiating Options on Affiliate/Licensing Deals

With the proliferation of social media and viral news, companies and brands are considering what caution they can include in contracts to protect their image in case a high-profile partner or affiliate engages in acts that harm their reputation. If a party acts in offensive conduct unrelated to the product or partnership, it is not a basis for termination of the contract, however, specific breach clauses can be adopted whereby a party can terminate a contract if a partner takes actions “detrimental” to the brand. We intend to extend contract negotiation and management services to brands and partners to mitigate friction and create policies and procedures that meet the needs of both parties.

3. Inventory Management

The online shopping and discount wave is set to continue into 2023 when it comes to fashion and apparel. 2022 for the fashion and apparel industry was plagued by low inventories (caused by COVID-19’s detrimental impact on the international supply chain), rising interest rates, and recession fears that led many retailers to stockpile inventory to avoid shortages. The economy has started to shrink back to pre-pandemic levels, and consumer demand has steeply declined, many apparel companies especially have been left with a substantial accumulation of inventory, with rising storage costs. We are working with retailers and wholesalers to offload this inventory with a managed plan while maintaining 2023 orders with wholesalers. We are looking forward to working on

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Ntare Consulting is a consulting firm that works on financial management, government compliance, fiscal planning, and more business solutions for small businesses at all stages. Our process is to understand you and your business to tailor a solution to start, manage and/or grow your enterprise.

Nothing in this article constitutes professional legal advice nor is it intended to be a substitute for professional legal advice.

NTARE Fashion And Apparel Outlook And Focus For 2023