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Home / SmartTech / Vision Fund startups Fanatics and Coupang sell US sporting goods in Korea – TechCrunch

Vision Fund startups Fanatics and Coupang sell US sporting goods in Korea – TechCrunch



SoftBank Chairman Masayoshi Son has repeatedly described the Vision Fund as a club for the world's most exciting startups. Although even the fund's LPs do not seem to agree with some of their investment theses, their portfolio companies often come together

The most recent vision fund partnership consists of two e-commerce companies in the opposite corners of the world: the US Sports specialists Fanatics and Coupang, Korea's largest e-commerce company.

Fanatics did it The Vision Fund spurred on a $ 1 billion 2017 SoftBank deal in 201

7, while Coupang spurred a recent $ 2 billion deal in November although SoftBank itself has been an investor for quite some time.

The two companies are working together to sell US sportswear and goods to consumers in Korea over a 10-year contract that will begin this summer. The Fanatics range includes NFL jerseys, NBA T-shirts, Nike products and more. Under the agreement, Fanatics will become the exclusive supplier of sports equipment for Coupang in Korea, the world's fifth largest e-commerce market and growth project.

Coupang claims that every second adult in Korea has his app on her phone. The company's nine-year-old CEO, Bom Kim, told TechCrunch last year that the company "nears" $ 5 billion in revenue in 2018, with annual growth of 70 percent.

This is an ideal fanatics partner who expects a new year strategy to work with vertical e-commerce companies to extend their reach and reach beyond their own network.

The company's first agreement with Walmart in the US last month was a move against Amazon Asian Fanatics CEO Michael Rubin, shown in the first picture, is beginning to comment in a statement to TechCrunch say:

Marketplaces are an important channel for electronic commerce, especially internationally, and leagues and clubs want their official licensed products fans available all over the world. Our global marketplace strategy is one way to achieve this through access to our industry-leading and exclusive inventory, but in a disciplined way that eliminates counterfeiting and provides an improved brand presentation that benefits everyone involved. This is our second marketplace deal and we expect much more in the future.

In addition to this partnership, Fanatics Global Operations includes a distribution center in Hong Kong, a tech team in India and a European hub in Berlin. In addition to the Vision Fund, investors include Silver Lake, Alibaba, Temasek, A16z and Insight Venture Partners.

Note: The original version of this story has been edited to make Fanatics the exclusive provider of all licensed sporting goods on Coupang


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