Rick Hall

Nick Jonas and wife Priyanka are now in the sportswear business

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ver the years, Nick Jonas has had his own line of shoes, clothing, fragrance and tequila. His wife, Priyanka Chopra Jonas, has a haircare line, a restaurant and line of home goods. But now the new parents are working together on their latest venture: high-end sportswear.

Nick and Priyanka are now investors in Perfect Moment, a luxury fashion and sportswear brand, the company announced Wednesday. It’s the first time the two have done business together in the fashion industry. Nick and Priyanka, who love “skiing and the outdoors,” have apparently “worn the brand for years” and are “loyal fans.”

The couple is expected to “play a substantial role” in expanding the brand into new markets in Asia and the Middle East, and continuing to build it in its biggest markets, including the U.K. and the U.S.

Nick says in a statement, “Perfect Moment hits the mark on how style and performance go hand-in-hand. This is my first choice and in our role, we feel other ski and surf enthusiasts worldwide will appreciate the fashion and function of this brand.”

Priyanka adds, “Not having to choose between looking amazing and performing at their highest level is a consumer need that Perfect Moment not only understands, but one that is baked into the ethos of this brand. I am proud to be a strategic investor and advisor to such a bold and trendsetting company. We’re looking forward to a bright future.”

Perfect Moment’s co-founder and creative director praised Nick and Priyanka as a “fun, diverse, business-savvy couple” who are “admired globally not only for their talent, but for their passion for life and impeccable taste.”

No word yet on how exactly the couple’s involvement in the brand will manifest itself.