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WHP Global & Italy's Lotto co-invest for global & digital expansion

23 Aug '21

2 min read

ATP world No. 8 ranked tennis star Matteo Berrettini in Lotto at 2021 Wimbledon Men's Finals. Pic: PR Newswire

WHP Global and Lotto Sport Italia (LSI) have joined hands to provide new financial investments for LSI and for the future of the Lotto brand globally. WHP Global is a leading New York-based global brand acquisition and management firm. LSI is one of the leading Italian footwear and sportswear manufacturing companies, based at Trevignano near Venice.

Under the terms of the agreement, WHP has acquired the global trademarks for Lotto. LSI and its current leadership team, including CEO Andrea Tomat, will continue to operate the Lotto brand in the core markets of Italy, Europe, the Middle East, and Africa. Together, LSI and WHP will provide design, product development, marketing, and brand management services to Lotto’s extensive existing network of 50+ global partners across the world who generate more than US$ 400 million in annual retail sales, WHP said in a press release.

With an eye towards accelerating Lotto’s dominance in the performance sportswear category, WHP and LSI will together invest in expanding into new markets and product categories while activating the brand through untapped digital channels and partnerships with world class athletes.

“I am excited about this partnership as it is a key step to ensuring the growth of Lotto, a brand with a great reputation and well-known all over the world. With WHP Global we immediately shared the relevance of the values that Lotto brings with it - values linked to sport, innovation, well-being, lifestyle, and Italian taste. These are the strengths we will invest in to ensure a growing global presence in key international markets. This partnership is an Italian success too, because, thanks to an innovative collaboration with WHP, Lotto will be able to compete at the highest levels to become one of the most loved sportswear brands in the world,” Tomat said in a statement.

“Lotto is a legendary Italian performance sports brand rooted in priceless heritage that athletes and fans around the world love. We are very optimistic about the brand's future as we work in close partnership with Tomat and the entire team at LSI. There is so much upside here, especially as we look to expand the brand from its current reach to the US and other major markets around the world,” WHP CEO, Yehuda Shmidman said.

Fibre2Fashion News Desk (GK)

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