Building a brand is a must for the entrepreneurial world. By building a brand, one can establish trust, acquire sponsorships, and stand out in the industry. Be it a business or a sport, branding is important. The President of the 23XI Racing team, Steve Lauletta believes the same.

In a recent interview, Lauletta opened up about how he sees his team as a brand and portrays co-owners, Michael Jordan and Denny Hamlin’s vision for the 23XI Racing team.

23XI Racing as a brand

Branding has become a common practice in business to gain trust in a short time. It enables the brand to get its hands on sponsorships easily. Building the brand excited Lauletta the most because he felt, it should be a racing team, not a racing team brand.

Michael Jordan, co-owner of 23XI Racing earns hefty royalties from the sale of his popular sneaker line ‘Air Jordan’. Those shoes have some really crazy hype. The shoes are a testament to Jordan’s business prowess. Also, given his social standing, he could play a key role in building 23XI Racing as a brand.

The brand envisions being visible in unexpected places. Lauletta added, “Denny and Bubba in a Post Malone video, or a streetwear collaboration we did with McDonald’s.”

He disclosed, “I was at dissenter in the discussion about calling it 23XI.” Because he thought it would be a “number soup”. But now it’s different and Lauletta loves it.

Just like Air Jordan is considered a brand, not a basketball shoe, 23XI aims to be a brand with a race team, not a brand for a race team. There’s a considerable difference. 23XI should be recognized as a status symbol to wear.

Read More: The Insane $155,000 Watch 23XI Racing Co-owner Michael Jordan Wore to Cheer Bubba Wallace at Nashville

Steve said, “I want somebody in Seattle and Washington walking out on those streets with the 23XI hat so that they can say they’re a bada** team.” 

With Jordan’s influence and Hamlin’s collaborations, 23XI is set to become a big brand that owns a racing team.

However, as a new team, they could encounter certain rookie challenges.

23XI Racing could face some challenges

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23XI Racing team constituted in 2021. Old teams like JR Motorsports, Stewart-Haas Racing, etc are race team brands and they have gained value organically over a long period. For new teams, it becomes quite difficult to acquire that goodwill, trust being the prime factor. But to grow fast, branding is vital. For that purpose, Lauletta revealed that they hired a woman from Warner Bros in L.A to become their VP of marketing.

Currently, 23XI has gained popularity mainly from its NASCAR performance. They are collaborating, but due to the high demand of the sport, it may not be enough to meet their funding needs. Michael and Denny will have to work hard to grow 23XI as a brand.

A 23XI Racing team hat, accompanied by McDonald’s partnered streetwear, and Air Jordan to complete the attire. 23XI as a brand with a race team could prove omnipresent.

Watch This Story: Michael Jordan and Denny Hamlin’s 23XI Racing did not face the same drama like Dwayne Johnson’s forgotten NASCAR team