Fanatics Targets U.K., China As Retailer Looks To Expand International Presence

Fanatics is "targeting markets such as the U.K. and China in its aim to quintuple annual sales" to $10B over the next five years, with help from a $1B investment from Japan-based SoftBank CEO Masayoshi Son, according to Sam Chambers of BLOOMBERG NEWS. While Fanatics’ international sales "currently amount to about" $200M, Fanatics Int'l President Steve Davis "expects business outside the U.S. to make up about a half" of the company’s $10B target. He "plans to open manufacturing facilities in Germany and China next year, then in Japan and Australia" in '19. China is a "particular source of excitement for Fanatics," but the country has a "graveyard of foreign retailers." To succeed, Fanatics will "need to cultivate a culture of buying soccer jerseys in a nascent market that’s still riddled with counterfeit products." The company "intends to recruit managers locally to gain a better understanding of the nuances of the market" (BLOOMBERG NEWS, 11/15).