Fanatics Takes New Funding at Eleven-Digit Valuation
The licensed apparel juggernaut’s latest round raised another $320 million from current investors at a valuation of $12.8 billion, up from $6.2 billion in its $350 million previous round in Aug. 2020. Since then, Fanatics revealed its plan for China, joining Shanghai-based PE fund Hillhouse Capital in a JV to build its sales of licensed gear from U.S. and European leagues there, and develop a portfolio of local teams as well. The Chinese JV is seen as a $1 billion opportunity, adding to the company’s top line that grew more than 20% to about $3 billion last year. It was ... Log in to view full article.