US sports e-commerce company Fanatics reaches agreement with the International Olympic Committee

Fanatics is offering a percentage of Olympic merchandise sales and the deal extends through the 2028 Summer Olympics in Los Angeles , but the agreement does not include sales from the 2022 Winter Olympics in Beijing (because China has a separate e-commerce agreement with Alibaba ), the report said.

It is reported that Fanatics will produce items related to the Olympics and plans to produce products around the 2024 Paris Summer Olympics . In addition, the company has also obtained the manufacturing rights to manufacture and sell the Olympic rings.

The picture is Fanatics official website

Financial terms of the agreement were not disclosed, and Fanatics did not provide a projection for how much it could earn from the IOC agreement.

Timo Lumme, director of television and marketing at the International Olympic Committee , said it was an exciting thing because more and more fans would be able to buy official Olympic merchandise and they were looking forward to working with the Olympics.

Organizers expect sales of licensed products around the 2020 Olympics to reach $100 million. Fanatics plans to use its traditional product lines to provide clothing, souvenirs and other merchandise for previous Olympics , including the 1996 Atlanta Olympics, according to reports . The company's "Olympic Collection" will provide toys and sports equipment products for young consumers. The collection can be purchased in the United States , Mexico and European countries (including the United Kingdom and Switzerland).

Fanatics is an online sports goods retailer that sells a variety of sports peripheral products , including jerseys, mugs , etc. It is reported that the company has not only built one of the fan databases, but is now using it to build a new, large-scale digital sports business. The company has more than 8,000 employees and more than 300 partners and suppliers in 11 countries and regions.

Fanatics estimates sales will exceed $3 billion this year, and the company plans to leverage its user base of more than 80 million to develop more digital products.

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