Boxing Icon Mike Tyson Joins NAGA Group As Brand Ambassador
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According to reports, NAGA Group AG has chosen boxing legend Mike Tyson as its new brand ambassador. This move shows another sports star joining the retail trading world.
NAGA’s Chief Executive Officer, Octavian Pătrașcu, shared the news by posting about Tyson’s role with the company. Pătrașcu described the project with Tyson as “next-level.”
He said his team managed to sign a deal with Tyson, work with production teams in Los Angeles and New York, and create all the campaign content in just two weeks. The team also filmed an ad featuring Tyson promoting the NAGA trading app.
NAGA Group Aims To Strengthen Brand With Mike Tyson Partnership
Octavian Pătrașcu said the company is excited to work with Mike Tyson on this campaign. His strength, resilience, and success match NAGA’s goal to make financial journeys easier and more powerful for users. He added that NAGA aims to bring trading, cryptocurrency investing, and payments together in one easy-to-use platform.
After launching this campaign, NAGA hopes to grow its brand on a global scale, which could help the company gain more users naturally. This branding effort aims to boost NAGA’s long-term profitability and offer more value to its shareholders.
Celebrity deals, especially with sports figures, are becoming popular in the retail trading industry. Recently, Polish company XTB made soccer star Zlatan Ibrahimović its ambassador.
XTB has partnered with sports stars like coach José Mourinho, goalkeeper Iker Casillas, and MMA fighter Conor McGregor. Other brokers also bring sports figures on board, though many deals still focus on sponsorships with soccer clubs and motor racing teams.
Earlier this year, NAGA itself partnered with German soccer club Borussia Dortmund, gaining exclusive rights to the BVB Partner logo.
Recently, NAGA reported a revenue of EUR 31.7 million for the first half of 2024, down from EUR 36.0 million in the same period in 2023. This change reflects a shift toward improving profitability, including stopping some unprofitable business areas.
NAGA Group Aims To Boost Global Reach After Merger With Key Way Group
Two months ago, NAGA Group completed a merger with Key Way Group, the parent company of CAPEX.com. The merger, approved within six weeks, is set to expand NAGA’s global reach and lower costs, per reports.
NAGA now has around 1.5 million users across over 100 countries. Adding CAPEX.com’s users to NAGA’s system will offer users new features, setting the NAGA SuperApp apart from competitors.
NAGA’s plan includes using shared technology across the group to make operations smoother and save money.
The company expects to save up to EUR 9 million each year, a bit lower than the earlier projection of USD 10 million. The immediate goal is to use these synergies in technology, regulatory processes, and customer acquisition.
