Fanatics Company Overview

Part
01
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Part
01

Fanatics News Articles

Fanatics has entered into partnerships with the University of Miami and UEFA over the last year. In entering into these partnerships, they have resolved some issues they faced regarding establishing a significant presence on the US college scene and in the European sports apparel market. The settlement of a racial discrimination action closes an unpleasant door in Fanatics history, while the appointment of a new CFO opens a new one. The hiring of 2,500 seasonal staff resolves staffing issues for Fanatics and creates a positive vibe in their hometown.

Fanatics Hires Nike Executive as New CFO

  • Former Nike CFO, Michener Chandlee, was hired by Fanatics as their new CFO. Chandlee will leave Nike after 18 years to work in the Fanatics West Coast office in San Mateo.
  • Speculation has been rife in recent weeks that Fanatics was planning an initial public offering. The estimated annual revenue of $2 billion has led to speculation that the privately-owned company was going public. The company needed a CFO.
  • The company made a note in its press release regarding Chandlee's appointment stating he was joining Fanatic at an opportune time. Fanatics have several new initiatives due to commence, including the manufacture and distribution of NFL and MLB Nike gear from 2020.
  • Chandlee's background with Nike and knowledge of the sports apparel markets are viewed as hugely positive, and Fanatics is of the firm view he is the man to guide the company's financial future.
  • This article was published in the Jacksonville Daily Record on 26 September 2019.

Fanatics Expands Further into College Sports

  • Fanatics is well-established as the leading sports apparel supplier in professional sport in North America. They have been looking to increase their presence in the college sports market. Bloomberg News reported on 20 May 2019 that Fanatics was entering into a ten-year partnership with the University of Miami. They will become the primary apparel licensor for the university.
  • The apparel will either be produced by Fanatics or sub-licensed. Fanatics will also work with Adidas AG, who is the Miami Hurricanes' current jersey supplier.
  • This is the third partnership of this nature that Fanatics has entered into. The other two partnerships are with Oregon and Florida. Fanatics sees its role with all three universities as adding value in three distinct ways. This involves driving the licensing royalties, unlocking the fan potential, and ensuring the universities receive commissions on sales.
  • Part of the agreement includes Fanatics funding a data analytics position within the Athletics Department to analyze data concerning ticket sales and donations. The partnerships with Oregon and Florida do not contain a data analytics role. Miami approached Fanatics about the position so they could better understand Fanatics data.
  • The agreement negates the fluctuations in the merchandise market from the universities' viewpoint, providing them with a degree of financial stability. A signing bonus and royalty agreement are also part of the new partnership, although the terms have not been released publicly.

Fanatics Pays $322,000 to Settle Racial Discrimination Suit

  • Although Fanatics continues to deny allegations of racial discrimination made by a former employee, they have agreed to pay Vincent Perkins a sum of $322,000 to settle his lawsuit filed in with the Equal Employment Opportunities Commission. The agreement will be formalized by way of a consent decree from the commission.
  • Perkins alleged he was discriminated against based on his race, by the general manager, who referred to black employees as "monkeys" or "Africans." He also asked if Perkins could read, "because a lot of you guys can't." It was further alleged after he raised concerns about the way black staff were being treated, he was told by his supervisor, "he would never be promoted."
  • The settlement makes it clear there is no admission of liability by Fanatics. The company has indicated they are pleased to have resolved the matter with no finding of liability. The allegations were from five years ago.
  • Fanatics have reaffirmed their commitment to a diverse, inclusive, and harassment-free workplace. A recent survey on diversity ranked both Fanatics and their CEO, Doug Mackie, 14th in diversity in a list of companies and CEOs.
  • The article appeared in the Miami Herald on 25 April 2019.

Fanatics to Make 2,500 Seasonal Hires

  • With the holiday season approaching and an extremely busy period anticipated, Fanatic had an issue — they were short on staff at their Jacksonville warehouse.
  • To resolve this issue, they plan to hire 2,500 seasonal hires according to the report in First Coast News on 26 October 2019.
  • The positions will be paid $13.50 to $16 an hour based on levels of experience. Fanatics is looking to employ Jacksonville locals and hope the positions will help locals who have recently become unemployed. The company has an affinity with the town, considering it home, having started operations at that location.
  • The positions are seasonal, although the company has indicated there is potential for the contracts to be extended. Positions they are seeking to staff include seasonal fan advocates, seasonal production warehouse associates, and seasonal fulfillment associates.

Fanatics Signs Long-term UEFA Sports Merchandise Deal

  • Fanatics has succeeded in formalizing its expansion into the European sports market. On 12 July 2019, it was reported that Fanatics had signed a long-term deal with UEFA to produce official merchandise that will be sold at official UEFA events.
  • Fanatics has created a model that will enable it to meet increased demand as teams progress through a particular tournament. The retail platform they have developed allows on-demand manufacturing, which is a fundamental requirement in a tournament environment, as the popularity of a particular team increases the further they progress.
  • Fanatics will be the official fan shop for all UEFA international football events. This includes both the men's and women's European Championship in 2020 and 2021, the finals of the Nations League, the Under 21 European Championship, and the European Futsal Championship.

Research Strategy

We initially reviewed a range of industry publications and media articles detailing Fanatics' rapid ascension in the sports apparel market and its dominance of the market around professional sport in the US. The European and College markets were identified as key expansion areas. Against this background, we reviewed a range of media articles from the last year looking for stories that addressed key issues for Fanatics. The racial discrimination settlement and hiring of staff fell into this category. The Miami and UEFA and UEFA partnerships also resolved issues around expansion for Fanatics. The final story regarding the appointment of a new CFO was also an issue that needed resolving due to the speculation around the company possibly going public.
Part
02
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Part
02

Fanatics Competitive Landscape-Part 3

The fourth competitor Big 5 Sporting Goods has an estimated annual revenue of $987.58 million while the fifth competitor Bass Pro Shops has an estimated annual revenue of $6.175 billion. Their strengths and weaknesses are discussed below.

Competitor 4: Big 5 Sporting Goods

Overview

Competitors

Competitive Advantage.

Strengths

Perceived Weaknesses

Competitor 5: Bass Pro Shops

Overview

  • Bass Pro Shops, founded in 1972 in Springfield, Missouri is now one of the leading national retailers of outdoor gear and apparel. It has 200 marine centers and retail locations in North America. Bass Pro Shops locations provide true destination experiences that bring more than 200 million visitors annually. Each of its locations is customized to fit the region.
  • Bass Pro Shops sell boats, firearms, hunting equipment and accessories, and apparel for mostly for outdoor activities. Bass Pro Shops locations also provide archery ranges, fish tanks, bowling lanes, billiards tables, and dining areas. The company also lures shoppers with its catalogs, online store, and TV and radio programs.
  • In 2017, the company acquired one of its competitors Cabela's for $4Billion.
  • Bass Pro Shops has an estimated annual revenue of $6.175 billion.
  • Bass Pro Shops has 17 Retail Shops in the United States (Alabama, Arizona Arkansas, Alaska, California, Colorado, Connecticut, Delaware, Florida, Georgia, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, Ohio, Oklahoma, Oregon, Pennsylvania, South Carolina, South Dakota, Tenessee Texas, Utah, Virginia, Washington, West Virginia and Wisconsin) and Canada (Alberta, British Columbia, Manitoba, New Brunswick, Nova Scotia, Ontario and Saskatchewan).

Competitors

Competitive Advantage.

Strengths

Perceived Weaknesses

  • Perceived weaknesses include high costs of products, old-fashioned management and large size of shops which is costly.
Part
03
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Part
03

Fanatics Competitive Landscape-Part 2

Academy Sports + Outdoors and Genesco are the second and third competitors that were identified in the previous part of this request titled "Fanatics Competitors".

Academy Sports +Outdoors

Competitive Advantage

  • Academy Sports + Outdoors has had a strong presence in the market since 1938 and is considered as a premier sport, outdoor, and recreation lifestyle retailer in the industry.
  • The company has more than 250 stores in 16 states and is supported by more than 23,000 team members throughout the South, Southeast, and Midwest.
  • Along with its retail presence, Academy Sports + Outdoors also offers as a full eCommerce retail site offering a wide variety of products ranging from shoes and boots to hoodies, ride-on, and basketball systems among others.

Strengths

  • Academy Sports + Outdoors offers a wide range of quality hunting, fishing and camping equipment, patio sets and barbecue grills, along with sports and recreation products, at everyday low prices.
  • Academy Sports + Outdoors has a strong social media presence and is widely available on various platforms such as Facebook with 3,484,772 followers and 3,526,892 likes, Twitter with 308k followers and 9k+ likes, Instagram with 140k followers, and Pinterest with 866.2k monthly unique viewers.
  • The company is considered to have a solid position in core markets, driven by value positioning and broad assortments along with good liquidity, including ample revolver availability.

Perceived Weaknesses

  • Despite the company having a strong social media presence, it lags in e-commerce penetration which is less than 5%. Additionally, the company faces heightened competition, particularly from online players.
  • According to its key vendors, Academy Sports+ Outdoors is perceived to have a slow embrace of the online selling culture as well as omnichannel offerings with regional concentration risks and direct-to-consumer (DTC) expansion. (Source 8)
  • Due to Academy Sports+ Outdoors continued weak earnings and credit metrics, it has faced a downgraded CFR rating to Caa1 from B3 and PDR rating to Caa1-PD from B3-PD

Revenue

• Academy Sports + Outdoors has an annual sales revenue of $4.78 billion in its year ended February 1, 2019.

Footprints

  • Academy Sports + Outdoors is located in 16 locations of the US including Texas, Houston, Louisiana., Oklahoma, Florida, Arkansas, and Georgia.

Genesco

Competitive Advantage

  • Genesco is a specialty retailer that was established in 1924 and has a wide presence in the US as well as other countries with more than 1,500 retail stores.
  • The company has had exclusive men’s footwear license in the U.S. since 1991 under its primary footwear marketed under the Dockers Footwear.
  • Dockers Footwear has become a leader in men's apparel and casual shoes over the years and still is one of the nation's most recognized brand names.

Strengths

  • Besides having a strong retail presence, Genesco also sells wholesale footwear under its numerous brands such as The Trask, Johnston & Murphy, and Dockers among others.
  • Moreover, the company also sells its footwear and accessories through big names like Johnston & Murphy, Journeys Kidz, Schuh Kids, and Little Burgundy.

Perceived Weaknesses

  • As compared to its competitors Genesco does not have an e-commerce presence or an online store of its own and largely confines its sales to retail stores.
  • Genesco does not have a strong social media presence. No official Facebook page of the company was found and despite having a Twitter account, it has no tweets and less than 100 followers.

Revenue

  • In its 2019 fiscal year, the company had annual revenue of $2.2 billion. (Source 10)

Footprint

Research Strategy

To obtain comprehensive insights on the competitive advantages of Academy sports + outdoors and Genesco, we primarily examined the official websites of each of the companies. Through this strategy, we hoped to find their details from their history, press release, resources, and product pages as well as from their e-commerce stores and reports. We also used the relevant details we gathered from their official social media accounts such as Facebook, Twitter, Instagram, and LinkedIn.
Additionally, we also searched for each company's related news from articles found in credible sources including CNBC, Forbes, USNews, and others. Here we identified insights that were related to the companies’ expertise, competitive advantage, their strengths, and perceived weaknesses in comparison to their competitors as well as any publicly available mentions of their financials and cities/countries where they have footprints.

Part
04
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Part
04

Fanatics Competitive Landscape-Part 1

Fanatic's revenue is estimated to be between $2.7 and $2.8 billion, while Dick's Sporting Goods saw $8.59 billion in revenues in 2018.

FANATICS

Competitive advantage


Strengths


Weaknesses


Company size


DICK'S SPORTING GOODS

Competitive Advantage


Strengths

  • Dick's Sporting Goods has completed a wide range of expansions in the past, acquiring companies such as Golf Galaxy, Chick’s Sporting Goods and Galyan’s Trading Company.
  • The brand offers a large scope of apparel product lines, such as Team Sport, Athletic, Golf Lodge, Outdoor, Fitness and footwear.
  • Dick's Sporting Goods has a massive presence on social media, boasting 5,485,178 followers on Facebook.

Weaknesses

  • The company's gun control concept is causing them to lose customers and sales.
  • The company rents some of its locations and pays large amounts of rent, which increases its expenses.
  • The company's inventory turnover rate is 3.24, which is lower than the industry average.

Company size

  • In 2018, the company's revenue was $8.59 billion.
  • In the US, the company has 858 locations. These are located in the states of Alabama, Arkansas, Arizona, California, Colorado, Connecticut, District Of Columbia, Delaware, Florida, Georgia, Iowa, Idaho, Illinois, Indiana, Kansas, Kentucky, Louisiana, Massachusetts, Maryland, Maine, Michigan, Minnesota, Missouri, Mississippi, North Carolina, North Dakota, Nebraska, New Hampshire, New Jersey, New Mexico, Nevada, New York, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South, Carolina, South Dakota, Tennessee, Texas, Utah, Virginia, Vermont, Washington, Wisconsin, West Virginia, and Wyoming.
  • The company's distribution facilities are located in the following cities: Conklin, New York; Atlanta, Georgia; Plainfield, Indiana; Goodyear, Arizona and Smithton, Pennsylvania.

RESEARCH STRATEGY

Fanatics hasn't publicly disclosed its exact revenue. Third-party sources estimate Fanatics saw between $2.7 and $2.8 billion in revenue. We attempted to locate exact figures in the following ways:

We aimed to locate this information in financial reports published by the company, but found no relevant information, as the company disclosed scarce financial information. Given that Fanatics is a privately-held company, it is under no obligation to disclose financial information.

We turned to third-party sources, such as company databases (Hoovers, Crunchbase) and business publications (such as CNBC). There, we aimed to find external views of the company's revenue, but all that was available were rough estimates of the revenue, as well as data surrounding sales. We did, however, locate paywalled reports that possibly provide the exact revenue, which can be accessed here, here and here.

We also aimed to find alternate data points, such as the percentage of Fanatic's revenue that came from sales. Such information could have been used to triangulate the revenue, but we weren't to locate any data that could be used in the triangulation.
Part
05
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Part
05

Fanatics Competitors

Seven true competitors to Fanatics include; Dick's Sporting Goods, Academy Sports + Outdoors, Genesco, Big 5 Sporting Goods, Bass Pro Shops, Recreational Equipment Inc (REI), and Modell's Sporting Goods. They are all top companies in the sports wear goods industry and offer at least one product that is similar to Fanatics.
  • By combining partnerships, technology and manufacturing, Fanatics has muscled its way into the sports apparel market that is very competitive.
  • The company has been scoring deals with both teams and leagues such as NBA, NHL, and MLB to serve as their official online store.
  • Additionally, to grow and expand its territory, Fanatics has been acquiring some of its competitors such as Fansedge and Majestic as well as took a minority stake at hat-retailer Lids.
  • Partnering with JCPenny is helping the company to supply its products in many locations that JCPenny has stores in.
  • Moreover, Fanatics was recently named by Walmart as their sole provider of licensed sports gear online, something that is helping the company to take over the sports apparel industry.
  • Fanatics is now valued at $4.5 billion.

Competitor 1: Dick's Sporting Goods

Website

  • This is the link to the company's website.

Why it is a competitor

  • Dick's Sporting Goods is a multiple channel sporting goods retailer that specializes in authentic and high quality retail sports clothing, footwear, and equipment just like Fanatics and is valued at $3.3 billion. It has more than 720 Dick's Sporting Goods locations where it supplies it products.

Value Proposition

  • Dick's Sporting Goods emphasizes on providing its customers with the finest quality products that are supported by teammates who have passion for sports at competitive prices.

Competitor 2: Academy Sports + Outdoors

Website

  • This is the link to the company's website.

Why it is a competitor

  • Academy Sports + Outdoors is a sporting goods chain store with over 250 locations where it distributes its sports footwear and apparel among other products.

Value Proposition

  • Academy Sports + Outdoors is based on the idea of making it easier for everyone to enjoy more sports as well as outdoors.
  • The company also emphasizes on providing fun for everyone by offering people a good experience through a broad selection of quality products, delivering exceptional customer service, and selling at everyday low prices.

Competitor 3: Genesco

Website

  • This is the link to the competitor's website.

Why it is a competitor

  • Genesco is one of Fanatics competitors as it has more than 1,490 retail stores throughout the U.S. among other countries and through these stores, it sells sports footwear, apparel and accessories.

Value Proposition

  • Genesco believes in being a customer-focused company by being inclusive to all backgrounds, ethnicity, and cultures not only with employees and shareholders but also with its customers and communities where it operates.
  • The company also offers sustainable products to reduce its environmental footprint.

Competitor 4: Big 5 Sporting Goods

Website

  • This is the link to Big 5 Sporting Goods website.

Why it is a competitor

  • Big 5 Sporting Goods company is one of the true competitors of Fanatics because it provides a full-line product offering that include sports apparel, shoes, and accessories in its more than 436 locations.
  • The competitor also has a broad selection of outdoor and athletic equipment for camping, fitness, snowboarding, golf, and team sports among others.

Value Proposition

  • Big 5 emphasizes on providing customers with a product mix of sporting goods that are of high quality.
  • The company also prides itself in being the convenient neighborhood sporting goods store that consistently delivers value on quality merchandise and at low prices.

Competitor 5: Bass Pro Shops

Website

  • This is the link to Bass Pro Shops' website.

Why it is a competitor

  • Bass Pro is one of the leading retailers of sports and outdoor gear and apparel with over 200 outlets that are mainly spread across North America.
  • In 2017, Bass Pro Shops acquired Cabela's which is also one of the top specialty retailer and marketer of outdoor and sports gear and apparel.

Value Proposition

  • Bass Pro Shops prides itself in creating and making the shopping experience for customers more entertaining.
  • All the company's stores are customized to reflect the character of the region/location they are in, something that makes them offer "true destination experience" and attract a lot of visitors.
  • These unique and interesting store locations as well as acquiring Cabela's are meant to offer the "best-of-the-best" experience with outstanding customer service and superior products.

Competitor 6: Recreational Equipment Inc (REI)

Website

  • This is the link to REI's website.

Why it is a competitor

  • REI is a retail company that sells sporting goods, travel equipment, camping gear, and clothing both online and in its 157 stores in 37 states as well as the District of Columbia.

Value Proposition

  • REI offers its customers top-quality gear and apparel, equipment than can be rented, expert advice to enhance outdoor experiences, as well as inspiring stories of life outside.
  • REI works towards helping its customers to experience nature by offering them sustainable gear and apparel that are not only long-lasting but can also be rented for a specific occasion instead of buying an item and never using it again.
  • After designing, the company also takes out its products to test them to make sure that they work properly and are built to last such that they can be passed down generations.

Competitor 7: Modell's Sporting Goods

Website

  • This is the website link to Modell's

Why it is a competitor

  • Modell's Sporting Goods supplies its sporting goods, active apparel, athletic footwear, and fan gear using its over 150 stores spread throughout the U.S.

Value Proposition

  • Modell's emphasizes on excellence being the cornerstone of its growth. The company stands for the selection of quality products as well as a superior customer service that is backed by its partners and employees who are willing to go the extra mile to make sure that customers are satisfied.
  • Combining its over 120 years of retail experience, support, and reputation, Modell's offers its customers the convenience of online shopping as well as an amazing shopping experience.

Research Strategy

In order to provide 7 true competitors to Fanatics, we started our research by trying to understand Fanatics' business model, products offered, and value proposition by checking through the company's website and we were able to find this information. Fanatics is an online retailer of licensed sportswear, sports equipment, and merchandise with over 300 online and offline stores
With this in mind, the research team identified competitors as other companies that have a similar business model and offer at least some similar products to Fanatics. We were able to identify Dick's Sporting Goods, Academy Sports + Outdoors, Genesco, Big 5 Sporting Goods, Bass Pro Shops, Recreational Equipment Inc (REI), and Modell's Sporting Goods as the true competitors.
Part
06
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Part
06

Fanatics Chief Commercial Office Profile

Cole Gahagan currently works for Fanatics Inc as the Chief Commercial Officer. He previously worked for Ticketmaster. Gahagan currently resides in Dallas, Texas, with his wife and two children.

Current Role

  • His name frequently appears in the media as a representative of Fanatics Inc.

Past Professional History

  • From 2012 to 2016, he was employed by Ticketmaster as the Chief Revenue Officer, managing the company's B2B portfolio in the North American market.
  • He spent two years, from 2010 to 2012, as the Senior Vice President for Development and Strategy at Ticketmaster. This role saw him manage the business relationships related to the NBA, NHL, and major North American arenas.
  • Between 2008 and 2010, Gahagan had the role of Senior Vice President for Business Development and Strategy at Live Nation. He was responsible for strategic third party relationships and customer acquisition at one of the world's largest entertainment arenas.
  • As the Senior Vice President for Sales and Marketing at Vertical Alliance between 2005 and 2008, he was responsible for the management of all business development, marketing, and strategic ventures.
  • Before that, he spent five years, between 2000 and 2005, as the Vice President of Sales at tickets.com, managing the team responsible for new business and client retention.

Education

Conferences/Awards

  • Gahagan will be the Keynote Speaker at the 2020 Licensing Expo in Las Vegas. He will discuss his role at Fanatics Inc, the story of Fanatics Inc, and the future strategies of the company.
  • Previously Gahagan has given the keynote speech at Licensing University in 2017.
  • In 2015, Gahagan was named by Billboard magazine as one of the sport and entertainment industry's power players. He also received an International Leaders in Sport Award (under 40) in 2016.

Personal Background

Charities/Foundations

Interests

  • Gahagan is a keen duck shooter.
  • According to his Twitter account, Gahagan is a two time Summer Camp Dodgeball Champion.
  • His Twitter account suggests he is a keen sports fan. Gahagan also has a number of posts and photos that share family camping holidays.

Social Media

  • Gahagan is active on Twitter. His account @ColeG13 has 789 followers. His tweets are a testament to his enthusiasm for both sports and his job at Fanatics.
  • His Instagram account @ColeG13 is private.
  • Professional details are noted on his LinkedIn account.

Research Strategy

We initially searched for a LinkedIn account for Gahagan. Information regarding Gahagan's professional work history and education were provided on this account. By searching a range of media articles, interviews, and publications, we were able to locate several stories that featured Gahagan in a professional capacity. There was also information regarding his appearance as the Keynote Speaker at the annual industry conference in 2020. An interview with media when he started in his current role at Fanatic Inc included some fun facts regarding his personal life and interests. The article also detailed some of his achievements.

By searching social media, we were able to locate a Twitter and Instagram account belonging to him. The Instagram account was private. The Twitter account was public. By reviewing his posts, we were able to draw some broad conclusions regarding his interests and life outside of work. While there is a reasonable amount of information available publicly about Gahagan, there is little information regarding his life outside of work.

We attempted to find further information about Gahagan by searching the alumni information at the universities in Texas that he attended. There was little information available publicly. A login was required to access any information of a personal nature.

A review of media and high school records in Natchitoches, Louisiana, was also unsuccessful. We located one brief article and a photo of Gahagan and his wife attending his sister-in-law's birthday several years ago, but nothing that provided any information regarding the time he spent there as a child growing up.

Part
07
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Part
07

Fanatics Company Overview

Founded in 2011, Fanatics is a global manufacturer of licensed sports merchandise that is offered through an innovative and omnichannel approach to the manufacturing and distribution of sports fan gear. Fanatics' merchandise is available online, by a mobile application, in stores, and even on-site at sporting events to sports fans worldwide.

Fanatics

  • Fanatics has partnered with more than 300 sports brands to provide sports fans worldwide with sports merchandise through a multitude of channels.
  • Sports fans have access to Fanatics merchandise in stores and on-site at sporting events. Fanatics' innovative approach to the design, manufacturing, and distribution of its products has allowed the brand to offer its merchandise to consumers through online shopping, data platforms, and mobile applications as well.
  • FansEdge, Kitbag, Majestic, and Fanatics Authentic are all brands of Fanatics, and all work together to meet the demands of sports fans worldwide.

Origins

  • The idea of Fanatics began within GSI Commerce when the company's CEO, Michael Rubin, made an e-commerce deal with NASCAR in 2002.
  • In 2011, Mr. Rubin purchased a sports e-commerce business, Fanatics, headquartered in Florida that consisted of two stores, and "rolled it into GSI before selling the company to eBay for $2.4 billion. GSI Commerce remained with eBay, but Rubin subsequently repurchased Fanatics.
  • By the following year, the sports e-commerce business had online stores for numerous colleges, sports teams, and all North American sports leagues.
  • Today, Fanatics operates on a global scale to provide sports fans with top-quality products through a multitude of channels, online and offline.

Growth

  • Fanatics adopted the sports memorabilia division that is now known as FansEdge in 2012 and went on to gain additional sports teams as e-commerce partners when it acquired Dreams, Inc.
  • In 2014, Doug Mack, the man responsible for transforming Fanatics into what it is today, "part tech company, part manufacturer, part logistics company, part wholesaler, and part e-commerce expert," was hired as the company's CEO.
  • Fanatics acquisition of Kitbag, a UK-based e-commerce retailer, took the company global in 2016 and quickly led to offices, as well as fulfillment centers and manufacturing hubs, being opened in Germany, Hong Kong, India, Canada, Spain, Japan, and Honduras.
  • In early 2017, Fanatics gained a wealth of global manufacturing and wholesale capabilities by acquiring the "sports apparel company, Majestic."
  • Later that year, SoftBank's Vision Fund led Fanatics to set the record for the "largest tech fund in history," when it received investments from the NFL, MLS, MLB, and other notable investors, equaling $1 billion.

Global Presence

  • Fanatics has distribution facilities located across eight countries in North America, Europe, and Asia.
  • To further provide sports fans across the globe with access to the latest merchandise, Fanatics has operations based in the UK, Canada, China, Japan, Germany, South Korea, Spain, India, and more.
  • Fanatics has three locations in Canada, in the cities of Ontario, Vancouver, and Montreal.
  • There are currently 13 Fanatics locations in the United States.
  • Two Fanatics are located in Spain, in the cities of Barcelona and Madrid.
  • Fanatics also has two locations in China, as well as a single location in the countries of South Korea, Japan, India, Germany, Honduras, and the United Kingdom.

Agency of Record

Revenue

Other Information

  • Fanatics identifies itself as "a tech company at heart" and invests a considerable amount of resources in technology and analytics innovations.
  • Mobile commerce and vertical commerce are the main areas of focus of Fanatics. Fanatics claims to be a "phone-first" company and works to innovate the testing, responsive design, and personalization of its mobile web sites and applications.
  • To maintain a strong global presence, Fanatics has a Technology Innovation Center in Hyderabad, India.
  • Fanatics has spent less than $100 million on national TV, print, and digital advertising within the last year.
Sources
Sources

From Part 04