Fanatics reached a multi-year extension to its e-commerce and manufacturing deal with Formula 1 (F1).
The extension will see Fanatics retain global e-commerce and manufacturing rights following a year in which “sales on the official online F1 store grew by more than 40 percent globally, with official F1 merchandise being delivered to fans in 143 different countries across the world,” said Fanatics.
“This strong performance has accelerated in the first six months of 2021, with sales on the official online F1 store growing by triple-digits compared to the same period in 2020, while the sport’s increased presence in the U.S. is evident, as the region has become the most significant market (most sales) for the F1 site,” the company continued.
Fanatics, which partners with more than 300 sports clubs and organizations worldwide, has worked with Formula 1 “to grow sales by almost 200 percent since 2017.”
Ben Pincus, director of commercial partnerships at Formula 1, said, “We are pleased to extend our e-commerce and licensing partnership with Fanatics on the back of an exceptional 2020 performance, which follows the remarkable growth we have seen over the last few years. Our ambition is to serve all our fans no matter where in the world they are located, and our focus in the years to come will be to access new markets and grow strategic territories like China.”
Zohar Ravid, general manager for Fanatics’ international business, said, “We have worked in partnership with Formula 1 for a number of years now and grown its global merchandise business significantly in that time. The recent transfer of the site onto our innovative cloud commerce platform has delivered some incredible results in recent months. We are committed to building on that growth in the coming years, and I am delighted that we will now be able to continue to deliver results and incredible service to its global fanbase.”
Fanatics partners partnerships include Manchester United, Chelsea FC, Paris Saint-Germain, Bayern Munich, Atletico Madrid, NFL, NBA, MLB, and the NHL.
Photo courtesy Fanatics