For Carmelo Anthony, Community Makes the (Business)man

When NBA superstar Carmelo Anthony announced his retirement in May after 19 seasons in the league, he closed the chapter on a storied career. "Melo" amassed a trophy room full of honors: He's a 10-time NBA All-Star, one of the league’s top 10 all-time scorers, the player with the most Olympic medals (three gold, one bronze) and the NBA’s first Social Justice Champion. But the 6’7” power forward—who, as a college freshman, gave the Syracuse Orange men's team its first NCAA championship before becoming the No. 3 draft pick—has quietly been a key player in a whole other game. He has mostly eschewed the typical pro athlete path of collecting brand deals, in favor of pursuing ownership stakes. One of his first investments was in Mophie, a tech accessories company. When approached by the company to endorse its products, his immediate response was, “Let me own a piece of it,” admitting he didn’t understand at the time what that truly meant. Photograph by Jordan Payne; Grooming by Marcos "Reggae" Smith; Styling by Khalilah Beavers/Keith Pearson for Kreatives Project Consulting “I got in super early, and at the point when the recession [that started in 2007] hit, I was like, ‘Whatever’s gonna happen with it is gonna happen with it,’” Anthony said. “And then I wake up one day and it sold to Apple, and I was just like, ‘Oh, shit. OK!’ And that was kind of my intro into solo investing. But I still didn’t really know what I was doing. I just knew I liked the product at that time.” The now-seasoned veteran has since gone on to invest in brands including Casper, Lyft, DraftKings, Bonobos, and many woman- and Black-owned companies including digital media company PureWow and personal care brand Walker & Co. (which was acquired by Procter & Gamble in 2018). He is also a partner in 9 Jones, an upscale Greek restaurant in New York’s West Village. In the off-seasons, he launched his own businesses, including Creative 7, a film, television and content production company; VII(N) - The Seventh Estate, a wine company; StayMe7o, a lifestyle brand; and Isos7, a private equity sports investment firm. Anthony sees his many side hustles as game-changing companies that build, serve and empower communities—a cause not only near and dear to his heart, but also foundational to every business decision he makes. Community and service Born in the Red Hook section of Brooklyn, N.Y., and raised in Baltimore, Anthony has long been adamant about giving back to the inner cities where he grew up. "When I first came into the NBA, that was always my thing. That 'once I get there,' to always come back and give back and always figure out a way how to impact the place that I just came from. So that’s always been kind of the core DNA of anything that I do. "I have conversations with the people," he continued. "And I listen. And we talk. And we argue and we debate. Sometimes we agree and sometimes we don’t. But that’s how I get to learn about what my community really needs. And that’s just starting with my own personal community." In teams he trusts While basketball greatness came naturally, building his businesses took a team. Especially as the rigors of being an active player in the league kept him benched from an operational standpoint. “I was always one foot in, one foot out,” he said. “[I] couldn’t have the impact that I wanted to have on being able to oversee everything. It made me trust my team more." Some of those team members include Stuart Goldfarb, co-founder and partner of Anthony’s VC, Melo7 Tech Partners, and longtime business partner Asani Swann, who oversees business development strategy for Melo Enterprises. The NBA legend hired Swann more than a decade ago as an assistant before eventually recruiting her for a clutch role in his burgeoning empire. "I was always about growth and uplifting people around me. You’re not just a worker. You’re not just an employee with me," he said. "You like something and I like it; let’s figure out a way to partner on this and let’s just do it." Swann is also the co-founder and producer behind Creative 7, Anthony’s production company dedicated to creating purpose-driven projects. Anthony sees investment in team members as an investment in the overall success of his businesses. "I have smart and intelligent people right within my infrastructure,” he said. (When asked if he was a great boss, he laughed and said, “You’re gonna have to ask them that!”) New opportunities for underrepresented communities Last year, Swann and Anthony officially launched their “boutique” DTC wine brand, VII(N) - The Seventh Estate, a journey he told Adweek “has been going on for about 10-plus years now” and consisted of learning the business, literally, from the ground up. “I learned a lot by just observing and looking and listening and understanding and doing my own research,” said Anthony, who hopes to inspire a more democratized wine industry, as one of the few people of color currently operating in it, while expanding opportunities for more people of color. “There are so many different levels in the wine industry that we’d like to bring those opportunities to everybody, but most importantly people of color because we don’t have those types of opportunities.” The brand’s first vintage blend, a 2017 Châteauneuf-du-Pape called “Oath of Fidelity,” was available in limited cases and inspired by Toussaint Louverture, a Haitian general who fought in the French Revolution and later led Haiti’s own historic revolution for independence from France. Anthony intends to focus on building a community for the brand before expanding to additional distributors. He's currently working with different regions in the U.S. as well as France, Italy and other countries for upcoming blends. “I’m trying to build the ‘World Cup of Wine,’ he said. “And just bring some excitement back into the wine industry. Friendly competition, blind tastings, and bringing community affairs and events and all of those things together." Life and style Despite spending more than two decades excelling in a highly competitive and aggressive sport, like his name suggests, Anthony’s philosophy to “Stay Melo” has not only kept him grounded, but it’s also caught on with global fans who have eagerly taken to the catchphrase. Naturally, the prolific entrepreneur saw an opportunity to turn it into a lifestyle brand, StayMe7o, cleverly playing on the nickname and his beloved use of the number seven, which he calls “very strategic. Very thought-provoking. Very community-oriented.” The DTC brand's inaugural capsule collection of accessories and apparel, which he calls the brand’s "uniform," quickly sold out. He'll soon be releasing “drop two” and will expand it to include products for the living room, bathroom and bedroom as well as books and music. “It's not gonna be thrown in your face,” said Anthony, who admits he was inspired by Martha Stewart when developing StayMe7o. “It’ll be very subtle, but it’ll be a part of your everyday thinking. I want to be in people’s households, when it comes to having a positive effect and a positive influence. “It’s very straight to the point,” he said of the brand. “When you’re feeling a way, you stay mellow. You remain mellow. So that’s my mentality. It’s also the mindset and mentality that people have when dealing with chaos and the fast pace of life … how to 'stay Melo.’” Investing in the future of sports Anthony and Goldfarb announced earlier this year that they are partnering with former WWE co-presidents and Isos Capital Management founders George Barrios and Michelle Wilson to launch Isos7. The platform will “provide growth capital, targeting $50 million to $100 million per investment, with a diversified portfolio of sports leagues, teams, emerging properties and ancillary businesses in North America, Europe and Pan-Asia.” The fund has also committed 1% of its profits to support underrepresented populations and underserved communities. “Where we’re at in sports is a pivotal time,” said Anthony, who contends that sports are “the thing that brings people together.” “No matter what. If things are bad … whatever we’re dealing with, sports will always bring people together. Sports will always make people happy." Hoodie and shorts: Res Ipsa; T-shirt: COS; Shoes: Jordan low’s; Watch: AP Now retired from basketball (though he told us at the photo shoot that he prefers the word "graduated"), Anthony feels especially suited for his new endeavor. “Being able to invest and give back where you have an impact, whether it’s with players, whether it’s with sports adjacencies, whether it’s with organizations, teams, Isos7 will be one of those go-tos when it comes to enhancing sports and investing and giving back.” And while Anthony is heartened by the increased presence of VCs working with underrepresented communities, he said there’s still work to do. “I see it growing. It’s not where it should be. It’s still a battle. I see more opportunities opening up. I see more people of color taking advantage of opportunities. That’s a step in the right direction." An assist for social justice Since founding The Carmelo Anthony Foundation in 2005, Anthony has been one of the more vocal players in the league when it comes to advocating for the Black community. In the summer of 2020, he teamed up with Dwyane Wade and Chris Paul to form the Social Change Fund United. (The longtime friends were fellow teammates on the gold medal-winning U.S. Men's Basketball Team during the 2008 Beijing Olympics.) Social Change Fund United's mission is to provide support for organizations dedicated to achieving "long-term policy solutions, community representation and narrative change." "I’m always up for the challenge, which is why Dwyane, CP3 and myself created the [Fund]," said Anthony. The Fund has partnered with organizations including the Boys & Girls Clubs of America, Teach for America, When We All Vote, The Bail Project and others to tackle prevalent, systemic and community-specific issues including police brutality, criminal justice reform, the expansion of access to voting, civic engagement and government representation for people of color. “It’s always gonna be necessary for us to have a voice and for us to take a stand," he said, adding, "This is what we want to do. We want to support the people that are on the ground actually doing all the work. Day-to-day, they are putting their fight in. They’re struggling and they’re laughing and they’re crying. So it was only right for us to step up.” And he’s open to partnering with brands that have a genuine interest in supporting their mission. “We’re open to work with sponsors and people and businesses that understand the cause,” he said. “[Those who] want to be better, want to make an impact, but also understand the vision." Anthony and business partner Asani Swann with their VII(N) - The Seventh Estate inaugural blend. It’s no coincidence that most of Anthony’s businesses contain the number seven. (He’s very intentional when it comes to his companies.)Fans will recognize the divine digit as the one adorning his iconic jersey during his time playing for the New York Knicks. Anthony's affinity for using the number in the names of his businesses is based on its symbolism for good fortune. Reviewing the details of products from his StayMe7o lifestyle brand. “Everything I do is grounded [in] a higher power," he said. For him, fortune represents “happiness” and “life,” and he admits that selecting his jersey number to play in what he calls “the mecca” that is New York held a great deal of importance as a native of the city. “Everything with seven is touched by a higher power, so that’s how I kind of look at it." From locker rooms to boardrooms In what is turning out to be a watershed year, Anthony—an NBA 75th Anniversary Team select—will also serve as the U.S.’ global ambassador for FIBA Basketball World Cup 2023. He will join fellow NBA “graduates” Luis Scola and Pau Gasol, who will be representing Argentina and Spain, respectively. “To be an ambassador of the greatest game in the world, and to represent it after being a part of it ... I think that’s one of the highest honors that you can get when it comes to your respective sport.” And while he’s cognizant of and grateful for the international and traditionally gatekept doors the sport has opened for him throughout his expansive career, he’s even more so aware of the lessons he’s learned from it as he enters his new phase as an entrepreneur. “My life and my career journey on the court has prepared me for whatever is about to happen next,” Anthony said. “There’s nothing I haven’t experienced when it comes to the game. Whether on or off the court. Good or bad. I’ve experienced it up top and I’ve experienced it at the bottom. So I just take those lessons and apply those to life and to business. "You learn how to be a team," he continued. "You learn how to use your players. You know which player is gonna come in in a clutch. You know the player that you can rely on. You know the coach. You know when to call a timeout. So all of these things of sports, you just bring that to the business world." This story is part of Adweek’s Beyond the Transaction special feature, which spotlights the people and strategies driving business growth and brand awareness.

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For Carmelo Anthony, Community Makes the (Business)man

The NBA All-Star is powering forward as a change agent in business and beyond

Leslie Blount

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Leslie Blount