Fanatics takeover of the hobby hits a speed bump
ndleo
Posts: 4,136 ✭✭✭✭✭
It looks the credit rating agencies are downgrading Fanatics due to losses in it's collectibles and gaming division. Also the merch business is barely profitable. Rubin is looking to sell another $1B of company stock.
It looks like Fanatics will have to squeeze the collector a little more.
https://nypost.com/2024/07/23/business/fanatics-ceo-michael-rubin-looks-to-sell-1b-in-company-stock/
Mike
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Maybe if they made better quality apparel then people would buy more. The word is out on their stuff.
Seems they are denying it...Hope they are not lying to the SEC as well
We'll see how Fanatics treats the collector with the new Topps Chrome and Composite FB product. I don't believe these products are "sold out" at Topps. Based on the credit report, Fanatics will have to jack more revenue from the flagship products.
Best way to prevent price hikes is to cease purchasing. After 2-4 consecutive quarters of diminished revenue in their trading card unit they will act.
Of course no one here will do that
Thus if one price hike is a success expect many more to follow. Not to mention inflation of cards in set and shrinkflation of cards per box
Glad my collecting focus is pre-war
Season hasn’t started yet and they are already out of Bears authentic jerseys except for one size. The combo of Nike and Fanatics is awful to get the stuff you want. They overpaid for the licenses will see what that means for collectors.
Shoddy quality merch, acquisitions, grifting and now lying about financials; seems like they are setting themselves up for trouble
With our perfect 20/20 hindsight, it’s clear that Fanatics overpaid for the licenses and for Topps. I know their vision was to grow the hobby and take a bigger slice of the hobby dollars for themselves. It looks like they have the new product end locked down but I don't think they haver a meaningful share of anything else down the value stream. PSA has grading and ebay still has the most transactions. I don't see that changing anytime soon.
They’ve already started squeezing this collector with these 190 dollar Chrome hobby’s and 40 dollar blasters!
I mean 40 bucks for a blaster seems ridiculous to those who remember paying 20 bucks for any and all of them for many years, up until not that long ago. And sure some will say, don’t buy it then.. but here’s the thing, I like Topps Chrome, always have. So if that’s the case I might as well sell everything and let my wife start filling my shelves with more shoes.
Fanatics is shady, their merch is horrible and it is sacrilegious how they treat memorabilia.