Reuters exclusively reports sports retailer Fanatics enters China via venture with Hillhouse Capital

Reuters exclusively reported that Fanatics Inc, the world’s biggest licensed sports merchandise retailer, was expanding into China via a venture with private equity firm Hillhouse Capital Group, as the e-commerce platform considers a possible public listing. Fanatics Inc, the Softbank-backed firm with annual revenue that exceeds $3 billion, is betting on what it sees as untapped demand in China for sports equipment and clothing. Florida-based Fanatics operates online stores and sells products for more than 300 teams, brands and leagues from Manchester United and Nike to America’s National Football League. Fanatics now generates 10% of sales from outside the United States. The global licensed sports merchandise market is estimated to be worth $25 billion a year.