Damon Dash recognizes the importance of branding and positioning yourself in the marketplace, in order to be respected.
As the CEO of Roc-A-Fella Records, Dame introduced the world to Jay Z, Beanie Sigel, and Kanye West, to name a few.
During his time as the boss at Rocawear, Damon Dash grew the fashion company to annual sales in excess of $700 million annually, until the company was finally sold for $204 million in 2007.
Dame breaks down what the “Big Baller” brand means for Lonzo Ball, his father, LaVar and the rest of the family.
“I don’t think people should judge other people for their opinions of themselves, they just don’t have to buy it,” reasoned Dame Dash to the Hip Hop Motivation video blog.
Dame firmly believes that if you make a product, you can charge the rest of the world what you believe it is worth.
While some people are lambasting LaVar Ball for his seemingly over the top footwear crusade, Dame Dash respects the hustle.
“I understand exactly where it’s coming from and there is no loss in it,” Dame said, referring to the extreme price tag of the new kicks.
The publicity from the $500 price tag for his shoe has been invaluable for the marketing of the product.
If Lonzo is able to couple that with NBA success, the amount could be the cheapest price we will ever see the shoes again.
The flipside of that is if he does not do well and struggles in the star-studded pro ranks, the “Big Baller” brand could be an epic flop.
“The thing I like about when people talk a lot about their skills is that you have to back it up, and he is talking very confidently, but if the kid backs it up then It’ll be huge, and if the kid doesn’t back it up it will be bad and niggas will have jokes.” – Damon Dash
Dame Dash believes that this is a win-win for the Ball family regardless.
LaVar Ball may be raising eyebrows amongst the footwear community, but he is also trying to advance his family’s brand to elite status.
Owning a shoe company may prove to be more lucrative than signing a direct deal with one of the large footwear brands.
Although Nike has some of the biggest stars in the game on their roster, most cannot claim ownership in the mega brand.
One star that comes to mind when referencing “the Ball strategy” is Shaquille O’Neal, although Shaq took the opposite approach.
Shaq was known to make inexpensive sneakers and gear to consciously sell to underprivileged youth.
In the end, the pressure is on, but luckily for Lonzo, it’s not all on him. With his brothers LiAngelo and LaMelo Ball on the come up too, it will be nice to keep it in the family.
Could they really be a billionaire family off of basketball?
Guess we gotta wait and see how it plays out or who gets played out!