Global Lotto Brand Rights Acquired by WHP Global
New York-based WHP Global has acquired the global trademarks for the iconic Italian sports brand Lotto. Financial terms of the intellectual property transaction for the 48-year-old brand were not disclosed. WHP, which intends to spend over $1 billion on consumer brands, has granted Italy-based LSI and its CEO Andrea Tomat the rights to continue distributing the Lotto brand in the core markets of Italy, the rest of Europe, the Middle East Africa.
WHP Global describes itself as “a firm that acquires global consumer brands and invests in high-growth distribution channels including digital commerce platforms and global expansion.” WHP, which owns the Anne Klein and Joseph Abboud brands and has a substantial stake in the Toys R Us brand, plans to work on accelerating Lotto’s presence in product categories, new global markets, and distribution in the U.S.
The Lotto brand and its signature double diamond logo are most known in the soccer and tennis markets. In its history, Lotto has been worn by professional soccer teams A.C. Milan and Juventus F.C., and tennis legends Martina Navratilova and Boris Becker. The brand is currently worn by more than 40 soccer teams, over 300 professional soccer players and more than 200 professional tennis players around the world including Italy’s Matteo Berrettini, Wimbledon runner-up this year. Currently distributed in 100 countries, Lotto brand retail sales topped $400 million last year but its presence in the U.S. was minimal.
WHP and LSI will work together to provide design, product development, marketing, and brand management services to Lotto’s network of 50+ global partners.