October 28, 2021
Fanatics Inks Global Merch Deal With Olympics
It’s the first global e-commerce deal for the International Olympic Committee.
Fanatics just won gold.
The Jacksonville, FL-headquartered online retailer of licensed sports merchandise, sportswear and equipment has partnered with the International Olympic Committee in what’s the first ever global e-commerce deal for the IOC.
While financial terms were not released, the partnership is a revenue-sharing agreement in which Fanatics will receive a percentage of sales from the Olympic-branded merchandise it retails through an Olympic-dedicated online shop.
Running through the 2028 Summer Games in Los Angeles, the deal doesn’t cover the 2022 Winter Olympics in China, as Beijing is partnered with Alibaba for e-commerce in what’s a non-global deal for that competition.
“This is an exciting launch for us, as fans from an increasing number of territories will be able to purchase official Olympic merchandising and connect with the magic of the Olympic Games ahead of each edition,” said Timo Lumme, an IOC television and marketing executive.
Lumme continued: “We are looking forward to collaborating on this new shop with the Organising Committees of Paris 2024, Milano Cortina 2026 and LA28.”
Fanatics’ retailing won’t be limited to just those games, though. The e-commerce company will make and sell products based on past Olympics, too. It also holds manufacturing rights to make and sell Olympic rings.
“Fanatics plans to leverage a heritage line that offers apparel, souvenirs and other merchandise around previous Olympic games, including the 1996 Olympics in Atlanta,” CNBC reported.
The company’s Olympic Collection “will target younger consumers with toys and sports equipment products,” the report continued. “The collections are available domestically in Mexico and in European countries, including the United Kingdom and Switzerland.”
Precise projections weren’t available, but Fanatics potentially stands to make a windfall. The last time the Olympics were held in the U.S. in 2002, for instance, gross retail sales of licensed products reached $500 million. Sales for Brazil 2016 reportedly topped $400 million.
The partnership with the IOC builds on the presence Fanatics already had with the Olympics, as the company is partnered with the United States Olympic Committee and possesses the e-commerce merch rights for Team USA.
Valued at $18 billion, Fanatics projects that its total sales this year will be more than $3 billion. The company reportedly serves over 80 million users.