'Sugarpova' reportedly a big success
Maria Sharapova seemingly has given her candy line the kiss of success. NESNShare This Story Updated Jan 11, 2013 5:33 PM ET Maria Sharapova has about a bajillion dollars in tennis tournament earnings and endorsement deals, but that hasn’t stopped her from earning even more money in the always lucrative candy business. MORE MARIA
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Sharapova’s candy line, the aptly named “Sugarpova,” was released in August. She celebrated that release by playing beer pong with Jimmy Fallon
, and her next celebration may need to include some champagne.
Bloomberg reports that the Sugarpova line has been wildly successful, despite little investment in in advertising and a somewhat steep price tag on each bag of candy.
Bloomberg reports that the candy line is expected to sell 1 million bags in a year, the candy flying off the shelf at $5.99 per bag and with Sharapova earning up to $1.10 per bag.
“We don’t really have a big budget for marketing and advertisement,” Sharapova said in the report. “So it’s pretty incredible that the awareness that it has so far is where it is.”
It’s a savvy business move tapping into the gummy candy market, which is apparently worth $28 billion per year.