Skullcandy Details Expansion Of Relationship With NBA All-Star Kyrie Irving

Skullcandy Inc SKUL announced after Tuesday's market close an expansion of its long-time partnership with NBA All-Star and equity holder Kyrie Irving.

Skullcandy said part of its new ambassador-owner program, the former Rookie of the Year and Cleveland Cavaliers point guard will play a key role in building the company's brand and collaborating on future product developments.

Skullcandy stated Irving's "personal tastes and aspirations" and his "personal brand that can cross over between his sports and business opportunities" in expanding the relationship.

Sam Paschel, Skullcandy Chief Commercial Officer added, "As we continually get closer with our ambassadors, it allows us to use their input to make better products and inspire our audience to live life at full volume. Kyrie's connection to the brand's legacy, along with the creativity, diversity, and style he brings, will impact a large cross-section of the brand from design and marketing as well as ground-up product developments in the future. We cannot be more honored to have Kyrie as a longtime Ambassador and now welcome him as an equity owner in Skullcandy®."

"Being an equity owner in Skullcandy® provides me a more meaningful connection to the brand and products we make together," said Irving. "I am excited to collaborate more with the Skullcandy® team on style, product and innovation. Music and sports are a big piece of my life, and I grew up skateboarding, so the fit with Skullcandy® has always been natural."

Skullcandy's stock showed no trades early Wednesday morning, but gained more than 3 percent to close at $3.56 on Tuesday.