WHP Global, the owner of such brands as Joseph Abboud, Toys “R” Us, and Anne Klein, has reached a deal to acquire the global trademarks for the iconic Italian sports brand Lotto from Lotto Sport Italia S.p.A. (LSI). No terms were disclosed.
LSI and its current leadership team, including CEO Andrea Tomat, will continue to operate the Lotto brand in the core markets of Italy, Europe, the Middle East, and Africa.
Together, LSI and WHP will provide design, product development, marketing, and brand management services to Lotto’s extensive existing network of 50+ global partners across the world who generate more than $400 million in annual retail sales.
“I am excited about this partnership as it is a key step to ensuring the growth of Lotto, a brand with a great reputation and well-known all over the world,” said Tomat. “With WHP Global we immediately shared the relevance of the values that Lotto brings with it – values linked to sport, innovation, well-being, lifestyle, and Italian taste. These are the strengths we will invest in to ensure a growing global presence in key international markets. This partnership is an Italian success too, because, thanks to an innovative collaboration with WHP, Lotto will be able to compete at the highest levels to become one of the most loved sportswear brands in the world.”
“Lotto is a legendary Italian performance sports brand rooted in priceless heritage that athletes and fans around the world love,” added Yehuda Shmidman, CEO of WHP Global. “We are very optimistic about the brand’s future as we work in close partnership with Mr. Andrea Tomat and the entire team at LSI. There is so much upside here, especially as we look to expand the brand from its current reach to the USA and other major markets around the world.”
The premier Italian sports brand established in 1973, Lotto is world-renowned for its performance-driven footwear, apparel, and accessories, which feature the signature double diamond logo. Rich with history in tennis and soccer, Lotto has been worn by professional soccer teams A.C. Milan and Juventus F.C., elite soccer players Dino Zoff, Ruud Gullit, and Andriy Shevchenko, and top athletes including tennis Grand Slam champions Martina Navratilova, Francesca Schiavone, Marion Bartoli, and Boris Becker. Lotto is distributed in over 100 countries and is a major force in both soccer and tennis. The brand is currently worn by more than 40 soccer teams, over 300 professional soccer players, and more than 200 professional tennis players around the world including current world No. 8 ranked tennis phenom Matteo Berrettini.
With an eye towards accelerating Lotto’s dominance in the performance sportswear category, WHP and LSI will together invest in expanding into new markets and product categories while activating the brand through untapped digital channels and partnerships with world class athletes.