Sports merchandise platform Fanatics is entering into a long-term partnership with Nike (NYSE:NKE) to manufacture college sports fan apparel.
The partnership will involve collaboration with the Fanatics College division, which already partners with most of the Nike-sponsored colleges and universities. Manufacturing is set to begin in summer 2024, according to sources familiar with the matter.
Fanatics Commerce CEO Doug Mack says it is “excited to maximize the value of Nike’s college partnerships,” but declined further comment.
Nike said in a statement it is making a strategic shift in how it serves NCAA university partners, and extending its licensing relationships with Fanatics and Branded Custom Sportswear, another collegiate partner, to include Nike NCAA retail fanwear and sideline products.
Nike has some of the largest contracts with top college sports programs to outfit their school teams, worth millions of dollars. According to the Sports Business Journal, Nike and its Jordan Brand outfitted 48 teams in the most recent NCAA basketball tourney, its highest total ever. It also outfits more than half of the Division I football programs.
Nike will continue to manufacture apparel and merchandise for its college team partners, including on-field apparel, according to sources.
Fanatics will manufacture fan apparel, replica jerseys, sideline apparel, headwear and women’s fan gear, among other items.
Fanatics already has exclusive licensing deals with the NFL, NHL, NBA, MLB, as well as various colleges and universities.
NKE shares fell $1.16, or 1.1%, to $102.60.
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