Dec 14, 2022
Download the article
Click here to print
Text size
aA+ aA-

Fanatics' international arm posts surging 2021 sales

Dec 14, 2022

Fanatics, the US-based digital sportswear, collectibles, NFTs, trading cards and merchandise retailer has enjoyed surging sales in its international operations for the 2021 financial year.

The international arm, which operates out of Manchester, UK, reported a turnover of £223.8 million for the year, sharply up on the £154.5 million recorded for 2020.

Fanatics, which has licensing deals with the UK Premiership football clubs Manchester United, Everton and Chelsea as well as motor racing’s F1, the NBA and the NFL in the US, also saw pre-tax losses cut from £12.4 million to £9.3 million in the year.

In August 2021 the wider group was valued at $18 billion after it raised $325 million to expand into new sectors, but has since secured an extra $700 million in financing to revalue the business at $31 billion.

It said that although the company “is impacted by the state of the retail market and competitive pressure [it] manages these risks by providing added value services to its customers and having fast response times not only in supplying products but in handling customer queries. The business is seasonal and is more heavily weighted towards the second half of the financial year.

“The company continues to monitor, reassess and mitigate the likely impact of the United Kingdom's exit from the European Union.”

Only last month, UK retail giant Next signed a long-term partnership with Fanatics. The deal was a big European move for Fanatics, tying up with a major retailer outside the US for the first time.

Copyright © 2023 FashionNetwork.com All rights reserved.