After the Los Angeles Lakers announced their new advertising-patch partnership with eCommerce giant Wish, half of the league will be wearing patches this upcoming season. Sports Illustrated has a complete list of teams and partnerships.
The Lakers patch will simply say, “wish” and be featured on the opposite shoulder from the Nike logo. The logo is minimalistic, aesthetic and most importantly, it will not distract that much from the classic jerseys the team wore over their 16 championships.
Wish, a San Francisco based company, will pay the Lakers organization an average of $12 to $14 million per year over three years. The deal looks to be second only to the $20 million per year that the Golden State Warriors will receive for displaying the Rakuten logo, an eCommerce company based in Japan.
“We are thrilled to welcome Wish as a new partner of the Los Angeles Lakers,” Tim Harris, President of Business Operations and Chief Operating Officer said in the Lakers’ press release. “When it came to the jersey patch, knowing its prominent placement, our goal was to partner with an innovative and ambitious global company. Wish more than checks that box.”
The newest business partnership for the Lakers is an eCommerce marketplace company that lists itself as a, “mobile mall app [that] connects you to thousands of merchants, making it easy to shop fashion, shoes, electronics, kitchen gadgets and more directly from the makers. You pay 60 to 90 percent less what you’d pay for in a store,” according to their iTunes store description.
With a pre-market valuation of $8.5 billion, according to Forbes, Wish is now more valuable than Macy’s, Sears and JC Penney. The bay-area company has plans for expansion and already raised $1 billion up to this point.
Peter Szulczewski, Wish’s CEO, believes that his company will eclipse a trillion dollars a year in sales soon.
We think we’re going to be the second or third trillion-dollar-a-year marketplace,” Szulczewski said to Recode.net, “we think Alibaba will be first and then it’s either us or potentially Amazon depending on how quickly, or if, they win in India.”
The partnership will result in more than new jerseys as Wish has pledged to sponsor other ventures including, “community initiatives” and a, “large-scale marketing program.”
“We are incredibly pleased to partner with the NBA’s most iconic brand,” Szulczewski said in the press release. “The Lakers epitomize a legacy of excellence and worldwide success. This partnership symbolizes our shared focus to reach all fans, not only within the LA community, but across every continent.”
Fans can get a glimpse of the players sporting their new look by checking out the photo gallery on the team’s website.