The licensed sports merchandise market is experiencing steady growth owing to the increase in health awareness and fitness activities. With a worth of 31.03 billion USD in 2017, the global market is pegged at 43.28 billion USD by 2023 with a CAGR of 5.7 per cent during the period. One of the major drivers for this market is increase in fitness activities that has swelled the spending on sports merchandise especially clothes and footwear.
Though dominated by frenzy for cricket, Indian market is gradually opening up for newer franchises and sports such as WWE, NBA, FIFA, Pro-kabbadi League etc. both in terms of viewership as well as licensed merchandise. Monetizing on this fad, Dream Theatre, which represents the Spanish, European and world football giants Real Madrid CF, has announced a licensed apparel range of the football club.
This announcement was made by Dream Theatre on their social media page and it mentions that the range would include active wear for men. The collection will be manufactured and retailed exclusively by Beevee Clothing, a bottom wear brand for men. With a presence in over 116 countries with more that 9800 licensed articles, Real Madrid enjoys high reputation in licensing and merchandising markets. The brand has around 158 licensees across the world and 37 million Real Madrid licensed products were sold in 2017. The top selling licensed product for this brand in India is the T-shirts so far.