It's official: Debbie Phelps inked an endorsement deal with Chico's. Soon after she wore Chico's to the Beijing Olympics to cheer on her son Michael, the company created a "Debbie Phelps" section on their Website to showcase the items she brought with her. But now, she'll earn in the low six figures over the next year for appearing in Chico's catalogues and wearing Chico's for public appearances, including on The Oprah Winfrey Show. Michael's management team is now managing Debbie, so who knows what other deals might arise for her — could a Wheaties box be in her future?
Meanwhile, this deal couldn't come at a better time for Chico's, which just announced that its second-quarter profits dropped 83 percent. The drop was probably a result of the company trying to market to a younger customer base. But with Phelps on the ticket, Chico's can refocus on its core baby-boomer customers. Chico's president Michele Cloutier told The Wall Street Journal there's been an increase in sales of items in the Debbie Phelps collection.