Business
2024-04-12-2-fanatics-is-31-billion-dollar-business

The merchandise giant is making "Comic-Con for sports"

House of cards, kits, and… conventions?

Not content with having a quasi-monopolistic hold over the world of sports jerseys, or constructing a multi-billion dollar empire from trading cards, or dipping its toe into sports gambling, Fanatics is now targeting the live event industry as well, unveiling plans this week for a “Comic-Con for sports”.

Fanatics Fest, slated to take place in August, will see huge names from across the sporting landscape — like Tom Brady, Kevin Durant, and Derek Jeter — take to New York to snap selfies and sign shirts for eager fans willing to pay through the nose to get near their sporting heroes.

Merch merchants

Fanatics started life in Florida as a brick-and-mortar store selling football jerseys and paraphernalia back in 1995, though it only really started to become the sports fan apparel giant we know today after it was acquired by Michael Rubin in 2011. Since then, the company’s grown at an extraordinary pace.

For example, in the summer of 2021, Fanatics wasn’t in the trading cards business at all. About a year later, it was its largest player, per FastCompany, after securing the rights to the MLB, NFL, and NBA, as well as acquiring trading card giant Topps.

However, not everyone’s been along for the ride: memorabilia rival Panini is just one of the entities to pursue legal action against Fanatics, accusing the company of “anticompetitive conduct” in a lawsuit.

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Ford reportedly in talks to buy hybrid vehicle batteries from Chinese auto giant BYD

Detroit’s Ford and China’s BYD are said to be in ongoing talks to partner on an agreement that would see Ford buy hybrid vehicle batteries from BYD, according to reporting from The Wall Street Journal.

The report comes just days after President Trump toured a Ford factory in Michigan and implied openness to Chinese automakers coming to the US.

“If they want to come in and build a plant... that’s great, I love that,” Trump said on January 13. “Let China come in, let Japan come in.”

Last week, China’s Geely Automobile Holdings said it expects to make an announcement about expanding into the US within the next three years. Chinese carmakers currently face huge tariffs and software restrictions, effectively barring their vehicles from the US.

Ford has doubled down on hybrid vehicles amid high EV costs and the end of federal EV tax credits. The automaker is currently building a battery plant in Michigan where it plans to use tech from Chinese battery maker CATL.

“If they want to come in and build a plant... that’s great, I love that,” Trump said on January 13. “Let China come in, let Japan come in.”

Last week, China’s Geely Automobile Holdings said it expects to make an announcement about expanding into the US within the next three years. Chinese carmakers currently face huge tariffs and software restrictions, effectively barring their vehicles from the US.

Ford has doubled down on hybrid vehicles amid high EV costs and the end of federal EV tax credits. The automaker is currently building a battery plant in Michigan where it plans to use tech from Chinese battery maker CATL.

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