LONDON: Formula 1 and licensed sports merchandise company Fanatics have announced a multi-year extension to their e-commerce and manufacturing deal.
“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,” says Ben Pincus, director, commercial partnerships, Formula 1. “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.”
The extension will see Fanatics retain global e-commerce and manufacturing rights and is announced following a year in which sales on the official online F1 Store grew by over 40% globally.
“We have worked in partnership with Formula 1 for several years now and grown its global merchandise business significantly in that time,” says Zohar Ravid, general manager, international business, Fanatics. “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 an incredible service to its global fanbase.”
