Dive Brief:
- Fanatics on Tuesday named Andrew Low Ah Kee as the new CEO of Fanatics Commerce, the company’s largest business.
- Low Ah Kee will report to Fanatics CEO and Chairman Michael Rubin. He most recently was the president of Opendoor and previously was the COO of GoDaddy, according to a company announcement.
- Doug Mack, the former CEO of Fanatics Commerce, announced his retirement last month and will help transition Low Ah Kee into the role. Mack will also serve as an adviser to Rubin and the company in the future.
Dive Insight:
Low Ah Kee has a track record of driving growth in his previous roles. During his tenure at GoDaddy, the company “more than quadrupled sales and free cash flow,” while he helped guide the company to go public in 2015. Under his leadership at Opendoor, the company entered new markets, attracted partners and improved its unit economics and customer experience while becoming a newly public company, according to the announcement.
“As we focus on further building our Commerce business and doubling down on creating the best overall fan experience, we were looking for a proven executive who is obsessed with creating elite customer experiences, utilizing innovation for growth, scaling companies globally, producing strong financial results, building renowned brands and establishing strong teams and internal culture,” Rubin said in a statement.
In addition to hiring a new CEO, the company in May appointed Krishna Rao as the CFO of Fanatics Commerce, where he leads its finance functions and strategic planning. Rao previously served as the CFO of Cedar, a healthcare payments and patient relations company.
Besides hiring industry veterans to steer the company, Fanatics has also made key acquisitions in recent years. In February 2022, Fanatics teamed up with Jay-Z, Maverick Carter, Meek Mill, Lil Baby and the D’Amelio family to buy the lifestyle brand Mitchell & Ness from Juggernaut Capital Partners for an undisclosed sum. This June, the company bought Fexpro, a Panama-based wholesaler that licenses U.S. sports leagues’ branded apparel in Latin America.
Fanatics has also enhanced its platform and added more products to its assortment. In July, the company introduced Fanatics Live, a livestream commerce platform allowing shoppers access to limited-edition merchandise, trading card releases and other experiences. In August, the company expanded its partnership with Academy Sports and Outdoors to sell more Fanatics merchandise.
