Formula 1 and Fanatics, the global leader in licensed sports merchandise, have announced a multi-year extension to their e-commerce and manufacturing deal.
The extension, agreed following an outstanding 2020 performance, 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 more than 40% globally, with official F1 merchandise being delivered to fans in 143 different countries across the world.
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 US is evident, as the region has become the most significant market (most sales) for the F1 site.
Fanatics, which partners with more than 300 of the biggest sports clubs and organizations in the world, has worked with Formula 1 to grow sales by almost 200% since 2017 and has changed the way F1 fans purchase their merchandise online through an innovative, tech-infused approach to making and selling fan gear in today’s on-demand, mobile-first culture.
The official F1 online store utilizes Fanatics’ vertical commerce model, which combines on-demand manufacturing with an agile supply chain to produce the timeliest assortments of merchandise for Formula 1 fans. A key driver of sales on the official F1 online store in 2020 was the store’s move to Fanatics’ industry-leading Cloud Commerce technology, which provides rapid navigation for fans across online and mobile sites. It meant faster website performance, larger hi-resolution product displays, local languages and currencies, and frictionless checkout, transforming the online shopping experience for F1 fans.
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, stated, “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.”