The world's fifth highest-paid athlete is looking to expand his business empire in parallel to his upcoming fight against Jermell Charlo.
Undisputed super middleweight champion Canelo Alvarez’s tequila-based canned cocktail brand VMC announced on Wednesday that it will begin distribution in select markets with large Mexican-American populations across the United States starting in September.
“We need to have something outside of boxing, because there will be a time when you retire and you need to have other business to do and spend your mornings,” Alvarez told BoxingScene.com in an interview.
“When you stop boxing, the money from boxing is going to stop. And you still want to spend what you spend right now. So you need other businesses to give you the same lifestyle. So that's why you need to [invest in] a business to keep your lifestyle. I come from nothing and I don't want to be in that position again. I risk my life every single time [I fight]. Right now I can do my business and keep my family in a good position. That's what I think every time I need to invest in a business … That's why I put everything together for VMC. My product is from Jalisco, Mexico, and this drink makes me feel proud about it. VMC is one of the things I enjoy more in my life, so I want to share it with all of the people.”
VMC will also have a presence for Alvarez’s fight against Charlo on Sept. 30 at the T-Mobile Arena in Las Vegas on Showtime pay-per-view.
VMC has already been front and center during the press conferences in Los Angeles and New York, with the logo appearing next to the likes of traditional sponsors like DraftKings and O'Reilly Auto Parts.
Come fight night, the VMC logo will also appear on the canvas of the ring and will also have various integrations throughout the event.
Alvarez’s other business venture Yaoca, a beverage maker and distributor, is also a presenting sponsor of the fight.
Earlier this year Forbes estimated Alvarez (59-2-2, 39 KOs) to have a total earnings of $110 million based on a period of May 1, 2022 to May 1, 2023.
Alvarez was said to have earned $100 million for his fights against Dmitry Bivol and Gennadiy Golovkin last year, and another $10 million from sponsorships and his businesses like VMC, Yaoca, as well as the fitness app I CAN, a chain of gas stations billed as Canelo Energy, a clothing line, and a credit card.
VMC comes in three flavors (Paloma, Margarita, and Jamaica Hibiscus) and will be sold in four packs of 355-milliliter slim cans at a suggested retail price of $10.99. The drinks have 5.5% alcohol by volume.
Manouk Akopyan is a sports journalist, writer, and broadcast reporter. He’s also a member of the Boxing Writers Association of America and the MMA Journalists Association. He can be reached on Twitter, Instagram, LinkedIn, and YouTube at @ManoukAkopyan, through email at manouk[dot]akopyan[at]gmail.com, or via www.ManoukAkopyan.com.