Madison Reeds' Investment in Women's Sports is Rewriting the NIL Playbook

Entrepreneur

08-08-2025

Madison Reed is reshaping the NIL landscape by offering female athletes like Azzi Fudd and Paige Bueckers equity, mentorship and real business opportunities — not just endorsements.
Opinions expressed by Entrepreneur contributors are their own.
Women have always faced pressure to meet narrow and often conflicting societal expectations. For female athletes, that pressure presents a paradox — being strong on the court while still being seen as "feminine" off of it.
"Growing up, I felt like if you were good at sports, people would label you a tomboy or say you weren't girly enough," says UConn basketball star Azzi Fudd.
Now, Fudd is helping change that narrative. She's at the center of a bold partnership between UConn Athletics and prestige beauty brand Madison Reed that challenges outdated expectations and redefines what confidence can look like.
Founded by UConn alum and seasoned entrepreneur Amy Errett, Madison Reed is deepening its investment in women's basketball through its Team ColorWonder campaign, expanding its roster for the 2025–26 season, and launching new initiatives with brand ambassadors like Fudd and Paige Bueckers.
"This movement of athletes being celebrated for their confidence and beauty is still new," Errett says. "When people think of Madison Reed, I want them to think of the aspiration to feel confident — on their terms."
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Highlighting what matters
Madison Reed was born out of a personal problem waiting to be solved. Founder Amy Errett saw her friends struggling with greying hair and frustrated by the harsh ingredients in traditional dyes. She set out to create a better alternative — one that delivered salon-quality results with cleaner formulas and greater accessibility.
Her first focus was the at-home market, which makes up roughly half of the women's hair dye industry.
"It never works if somebody buys one thing from you and doesn't come back," Errett explains. "It's like men and shaving. Women usually have a regular cadence for coloring their hair."
After finding early traction, she expanded Madison Reed's reach through partnerships with Ulta, Walmart and Amazon.
Eventually, Errett set her sights on the other half of the market: salons. After hundreds of stylists reached out asking to buy Madison Reed's color tubes, she had a realization — why not hire their own cosmetologists?
What began as a product-focused business evolved into one that also offers services, with Madison Reed now operating over 100 stores. While the service is cosmetic, the brand's success is rooted in what's behind it: high-quality ingredients and a deep commitment to care, from covering 90% of employee medical benefits to offering customers a 100% money-back guarantee.
"Customer service is a lost art," Errett says. "When you show up for your customers, they stay loyal. And we've seen that."
Equally important is how the company treats its employees — something Errett believes is often overlooked in the industry.
"We don't just hire based on whether someone's a great stylist, controller, marketer or data analyst," she explains. "We also hire for the 'how,' which is culture."
Madison Reed is grounded in five core values — Love, Joy, Courage, Trust and Responsibility — displayed in every hair color bar.
"As long as our cosmetologists are happy, and we give them career paths, we have an army," Errett says.
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Athletes and aesthetics
As women's sports exploded, Errett saw an opportunity for Madison Reed to be one of the first beauty brands to enter the space.
"Female athletes embody everything we stand for," she says.
A UConn alum and member of the UConn Foundation's Board of Directors, Errett saw the university as a natural fit for the brand's first partnership, especially with its powerhouse women's basketball program, featuring stars like Azzi Fudd and WNBA No. 1 pick Paige Bueckers.
"Partnering with a brand like Madison Reed is incredible," says Fudd. "It was founded by a woman, and its mission to promote confidence in women aligns with the values of women's sports."
The partnership goes beyond photo ops and Instagram collabs. Madison Reed has secured naming rights for UConn's Gampel Pavilion and XL Center, becoming the first female-founded and alumni-founded brand to do so.
"One thing about NIL partnerships is that a lot of them don't have aligned goals," Errett says. "The only way this works is if both the athletes and the university benefit."
In this arrangement, Madison Reed can host photoshoots on the UConn court, offering the school added publicity while simplifying logistics for everyone involved.
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Equity helps create empowerment
For the athletes, the deal is split 50/50 between cash and equity, with franchising rights included for players who may want to open their own store in the future.
"Talking with Amy about equity and potential franchise opportunities got me excited," says Fudd. "It showed she's not interested in just a transactional deal. She genuinely wants to empower women in sports, and she's willing to share her knowledge and be a mentor however she can."
Bueckers' partnership extended beyond her time at UConn and into the WNBA, including her color line, "Uconnic Blonde," while Fudd is exploring a for-credit internship with the company to gain hands-on experience in entrepreneurship and marketing while pursuing her MBA.
Fudd may be young, but she's already earned a seat at the table with some of the most elite athletes and entrepreneurs in sports. One of them is Steph Curry, whom she first met as one of the inaugural female attendees at his camp in 2018. He later invited her to a business summit, where she saw a completely different side of the NBA star.
"I only knew him as a basketball player, so that experience opened my eyes," Fudd says. "Watching him played a role in why I decided to pursue my MBA. I want to understand my business and not just rely on people I hire for help."
Conclusion
Madison Reed kicked off the second year of its partnership at the 2025 ESPYs by hosting the UConn team at its Los Angeles-area Hair Color Bar for a private "Get Ready With Me" event. Players and coaches enjoyed professional styling, including color, gloss, treatments and blowouts before the show.
"For a long time, female athletes weren't offered brand deals at all — let alone beauty deals," says Errett. "Now, they're being recognized not just for their talent, but for their confidence, beauty and the inspiration they bring to young fans and parents. Seeing someone like Azzi celebrated for who she is — inside and out — alongside so many other accomplished women… how amazing is that?"