Sales of Formula One merchandise increased by 101 per cent between 2021 and 2022, according to figures released by ecommerce specialist Fanatics.
- Online sales have increased by 1,084 per cent since 2018
- The US and the UK are the best-selling countries, Mexico and Italy experiencing highest growth levels
Context: Formula One signed a multi-year extension with Fanatics back in 2021, which saw the sports merchandising company retain global ecommerce and manufacturing rights to official merchandise.
Comment: Oli Boden, head of licensing and gaming at Formula One, said: “These record sales are another sign of the phenomenal growth Formula One has experienced around the world in recent years. We are delighted to have a fanbase that are so dedicated and invested in the drama and excitement of Formula One. We look forward to seeing their continued passion towards the drivers, team, and the sport in 2023.”
Coming next: Formula One returns for its second race of the season in Saudi Arabia on 19th March.