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Fanatics recruited Michener Chandlee, head of corporate audit and risk at Nike, who has been working for the sportswear giant for more than a decade, to become its chief financial officer, succeeding Lauren Cooks Levitan, has learned CNBC.
Cooks Levitan will be joining the Faire Shop, San Francisco-based wholesale market.
The hiring of Chandlee comes as Fanatics targets sales of more than $ 2.5 billion this year, compared with $ 2.2 billion in 2018.
The $ 4.5 billion sporting goods company was launched by Michael Rubin in 2011. It has raised $ 1.7 billion so far, which includes the support from the Vision fund of the SoftBank group.
Fanatics has expanded its reach by creating exclusive products for Walmart and Kohl's. The company is the official online store for hundreds of sports teams and world leagues, including dozens in the NFL, NBA, MLB and NHL. Fanatics said it plans to build more relationships with major retailers, which is part of its broader growth strategy.
"[Chandlee] He is knowledgeable in the sportswear industry and understands the tremendous power of products, brand and technology, giving him the skills and experience to lead our financial organization as we continue to expand our business rapidly. vertical model on demand ". Fanatics CEO Doug Mack said in a statement.
Chandlee has been with Nike since 2001, where he has held a variety of positions including CFO of Nike Golf, North American Vice President of Business, and Nike of CFO. and more recently, director of corporate audit and risk. He starts at Fanatics on Monday.
Nike denied CNBC's request for comment on Chandlee's successor.
Fanatics' announcement of the CFO comes as the company ramps up acquisitions from competitors, including FansEdge and Majestic, and takes a stake in Lids, a hat retailer. Analysts have described its business as somewhat "Amazon proof" because it offers many exclusive deals with leagues and teams.
Starting in 2020, for example, everything that will be sold retail for MLB and NFL with a Nike swoosh will be manufactured and distributed by Fanatics. Nike is the official supplier of the NFL jersey and is expected to become the official sponsor of the MLB jersey next season. For the NBA and the NHL, Fanatics continues to manufacture replica jerseys and gears bearing the logo, and operates the NBA and NHL stores in New York.
Fanatics was named earlier this year on CNBC Disruptor 50's annual list, moving from 45th place in 2018 to 25th place.
A spokesman for Fanatics said: "We are working to create a big company and develop the sector globally through innovation and continuous investment in a business model. vertical which the rising expectations in real time of the fans. "
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