Fanatics Lands Global E-Commerce Rights For Olympics Merchandise

The International Olympic Committee struck its first global e-commerce deal on Thursday, partnering with Florida-based sports company Fanatics. The revenue-sharing agreement gives Fanatics a percentage of sales from Olympics merchandise and extends to the 2028 Summer Games in Los Angeles. The agreement, however, will not include sales from the 2022 Winter Olympics in Beijing because China has a separate e-commerce deal with Alibaba. Fanatics will make items tied to past and future Olympic Games and it has already started producing items around the 2024 Summer Games in Paris. The company also gets manufacturing rights to make and sell Olympic rings. Read more at CNBC.