Sydney Sweeney Promotes Lingerie Line Amidst Novig Valuation Surge
Actress showcases her SYRN brand on Instagram following the significant growth of sports betting platform Novig, in which she holds an equity stake.
Sydney Sweeney recently shared images on Instagram modeling a $162 (£122) underwear set from her own lingerie line, SYRN. This promotion follows her involvement in a controversial nude advertisement for the sports betting platform Novig.
The Wall Street Journal reported that Novig's valuation has surged from $500 million to $2 billion since the ad campaign featuring Sweeney was released. Sweeney holds an equity stake in Novig, which she acquired before participating in the ad. While the exact size of her stake is not public, even a 1% share would now be worth an estimated $20 million (£15M).
Sweeney launched her lingerie brand, SYRN, in January. She showcased the "Meet Me Halfway Plunge Bra" in the color Babe, priced at $64 (£48), paired with $39 (£29) bottoms and a $59 (£44) cropped cardigan. Sweeney has stated that her aim with SYRN is to offer lingerie that fits a range of body types and to rival established brands like Kim Kardashian's Skims and Rihanna's Savage x Fenty.
"The secret is finally out... this is lingerie you wear for YOU, no explanation, no apology," Sweeney said at the brand's launch. "I wanted to create a place where women can move between all the different versions of who we are."
Regarding her collaboration with Novig, Sweeney emphasized her desire to be involved beyond just being a spokesperson. "I don't like to just put my face on something. I really want to be able to get into the weeds of it with an amazing team," she told Complex. Novig CEO Jacob Fortinsky noted that Sweeney was instrumental in driving the visuals and messaging for the campaign.
Despite the viral nature of the Novig advertisement, Sweeney reportedly lost over 200,000 Instagram followers after its launch. The ad campaign drew criticism from some in the sports community, including British sprinter Amy Hunt and Australian boxer Skye Nicolson, who argued that it sexualized women in sports and detracted from the athletic achievements of female athletes.
Novig operates as a prediction market app, exclusively focused on sports-related predictions, distinguishing itself from platforms that include other types of markets.