Sports

WNBA Teams Partner with Luxury Fashion Brands as League Valuations Soar on Record Investments

The Women’s National Basketball Association (WNBA) is experiencing a remarkable transformation, not only on the court but also in the world of fashion and finance. As the league’s popularity surges, WNBA teams are forging high-profile partnerships with luxury fashion and beauty brands, while record-breaking investments are driving team valuations to unprecedented heights. This convergence of sports, style, and business is reshaping the WNBA’s identity and cementing its place as a cultural and economic powerhouse in the United States.

A New Era for the WNBA

The 2024 WNBA season was a game-changer, marked by record-breaking viewership, attendance, and social media engagement. According to a report by Relo Metrics, the league generated $136 million in Sponsor Media Value (SMV) during the regular season, with brands like Nike, AT&T, and Michelob Ultra reaping significant benefits from partnerships. Social media platforms, particularly TikTok, saw a 470% increase in engagement per post compared to 2023, fueled by stars like Caitlin Clark, Angel Reese, and Cameron Brink. This surge in attention, often dubbed the “Caitlin Clark Effect,” drove 45% of total broadcast value from Indiana Fever games alone, highlighting the league’s growing appeal.

The WNBA’s financial growth is equally impressive. From 2019 to 2023, the league’s revenue doubled from $100 million to $200 million, mirroring the NBA’s growth trajectory in its early decades. Team valuations have skyrocketed, with the Las Vegas Aces valued at $140 million, the Seattle Storm at $135 million, and the New York Liberty at $130 million, according to Sportico’s 2024 valuations. The Dallas Wings recently set a league record with a $208 million valuation following new investments. The league itself is valued at $1.16 billion, a testament to its rising prominence.

Fashion Meets Basketball

As the WNBA’s cultural influence grows, luxury fashion and beauty brands are eager to align with its teams and players. The league’s players, known for their bold personalities and diverse styles, have become fashion icons, particularly through their pre-game “tunnel walks.” These moments, where players showcase their outfits before games, have become marketing goldmines for brands. For instance, Angel Reese of the Chicago Sky turned heads in Chanel, while Sabrina Ionescu of the New York Liberty was spotted with a Bottega Veneta bag.

In 2024, the New York Liberty, fresh off their first WNBA championship, announced partnerships with luxury brands like Off-White, which serves as the team’s “official style and culture curator,” and Fenty Beauty and Fenty Skin as its beauty partner. Other deals include Away as the official luggage partner and Essie as the official nail polish partner. These collaborations, announced just before the 2024 season, reflect the team’s growing cachet, with a reported valuation of $450 million after a recent investment round that included high-profile names like Jack Ma and Karlie Kloss.

Other teams are following suit. The Chicago Sky secured Covergirl as their first cosmetics sponsor in May 2024, while the Golden State Valkyries, set to debut in 2026, partnered with Sephora as a founding sponsor. The WNBA itself welcomed Coach as its first official handbag partner in April 2025, a multi-year deal that includes sponsoring the “orange carpet” at the WNBA Draft. Coach dressed top prospects like Paige Bueckers and Hailey Van Lith for the event, amplifying the league’s fashion-forward image.

These partnerships are more than just branding opportunities. Beth Bentley, founder of brand strategy consultancy Tomorrowism, described the WNBA as a “powerhouse human storytelling engine of drama, intrigue, adrenaline, and emotion.” Brands are capitalizing on this by timing their campaigns around viral moments, such as tunnel walks and playoff highlights, to create authentic connections with fans.

Why Luxury Brands Are Investing

The WNBA’s appeal to luxury brands lies in its young, diverse, and digitally-savvy fanbase. Nearly half (47%) of WNBA fans are aged 18 to 34, and Gen Z, a key demographic for luxury goods, is projected to account for 40% of the global personal luxury market by 2035. The league’s fans are also highly engaged, with TikTok engagement rates far surpassing those of the NBA. For example, WNBA teams average 272.24 engagements per 1,000 followers on TikTok, compared to just 17.07 for NBA teams. This passionate fanbase, combined with the league’s commitment to equality and empowerment, makes it an attractive platform for brands looking to connect with socially conscious consumers.

Players are also key to these partnerships. WNBA athletes are seen as “superwomen of endorsers” due to their diverse identities and relatability, according to Rheann Engelke, a WNBA marketing agent. From veterans like Sue Bird to rookies like Caitlin Clark, players appeal to a wide range of demographics, making them ideal brand ambassadors. For example, Glossier, a long-time WNBA partner, has featured players in campaigns and sponsored events, while Mielle, the league’s official textured haircare partner, launched initiatives like an HBCU-focused campaign in 2025.

Record Investments Fuel Growth

The WNBA’s financial ascent is driven by significant investments from private equity firms and high-profile individuals. In 2022, the league raised $75 million, valuing it at $475 million. Recent team sales, such as the Seattle Storm’s 14% stake sold at a $151 million valuation, reflect a growing appetite for WNBA franchises. Experts like Shana Orczyk Sissel of Banrion Capital Management see women’s sports as “one of the most attractive emerging areas for sports investment.” The league’s expansion, with new teams in Portland and Toronto slated for 2026, is expected to further boost valuations.

Private equity firms are particularly drawn to the WNBA’s growth potential. George Pyne of Bruin Capital noted that the league offers “early-stage investment with much upside potential,” though it requires patience for returns. The WNBA’s new 11-year media rights deal, valued at $2.2 billion, is set to bring in $200 million annually, a 300% increase over previous deals. This influx of capital is enabling teams to invest in facilities, marketing, and player salaries, further enhancing the league’s appeal to investors.

Challenges and Opportunities

Despite its growth, the WNBA faces challenges. The league reportedly lost $50 million in 2024, and players receive only about 20% of revenue, compared to the NBA’s 50% revenue share. Players are likely to opt out of their collective bargaining agreement to push for better terms, which could reshape the league’s financial structure. Additionally, the WNBA’s reliance on NBA ownership (42% of league equity) and outside investors (16%) means teams receive less than half of central revenue.

However, these challenges are outweighed by opportunities. The WNBA’s ability to attract luxury brands and investors signals a shift in how women’s sports are perceived. As brands like Prada, Balmain, and New Balance partner with players and teams, the league is becoming a cultural force. Stylists like Mary Gonsalves Kinney, who dressed Cameron Brink in Balmain for the 2024 draft, are helping players navigate the luxury fashion world, ensuring authentic representation.

Looking Ahead

The WNBA is at a pivotal moment. With team valuations soaring, luxury brand partnerships flourishing, and viewership breaking records, the league is poised for continued growth. As Beth Bentley noted, “This isn’t just exploratory investment anymore. It’s a serious brand-building opportunity.” The WNBA’s ability to blend athletic excellence with cultural relevance is drawing in fans, brands, and investors alike, setting the stage for a new era in women’s sports.

For more on the WNBA’s fashion partnerships, visit Vogue Business. To explore team valuations, check Sportico. For the latest WNBA news, head to WNBA.com.

Rajendra Chandre