Fanatics to launch first credit card as part of broader deal with American Express
Fanatics is set to launch its first credit card in partnership with American Express, aiming to enhance the experience for sports fans. The company's collectibles business is thriving, projected to generate around $5 billion in revenue this year. This collaboration will allow American Express cardholders to convert rewards into FanCash and deepen their engagement with sports fandoms.
- ▪Fanatics' collectibles business is benefiting from its acquisition of Topps and recent deals with major sports leagues.
- ▪American Express has partnered with Fanatics to become its official payments partner at select locations globally.
- ▪The new Fanatics credit card will allow Amex members to convert rewards into FanCash.
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Kain said that while the company's merchandise business continues to grow, Fanatics is also seeing positive momentum from its collectibles business. Driven by its 2022 acquisition of trading card company Topps, Fanatics has landed recent deals with the NFL, NBA and FIFA around collectibles and trading cards. Rubin said on CNBC that Fanatics' collectibles business is on track for about $5 billion in revenue this year.The company is also seeing a growing opportunity around partnerships with brands that are interested in reaching sports fans across Fanatics' platforms and physical presences, which included its sports fan festival, Fanatics Fest.
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