The Los Angeles Lakers have announced a multi-year global marketing partnership with Bibigo, a brand by the No. 1 food company in Korea. The partnership will feature the Bibigo logo on the Lakers jerseys beginning with the 2021-22 season.
The global marketing partnership establishes Bibigo as the first international partner ever for the Lakers and will include a large-scale integrated marketing program, including courtside branding (baseline courtside apron and rotational LED signage), social and digital fan focused campaigns.
Per the Los Angeles Times, “the five-year agreement is worth more than $100 million, according to people familiar with the deal but not authorized to disclose its terms publicly.”
And per SCNG.com, “NBA jersey patch deals have averaged $7 million to $10 million per year, according to The Athletic, though Wish reportedly was paying the Lakers between $12 million to $14 million per year, and this one is likely worth significantly more because of a recent change in NBA rules that allows teams to include their logos in overseas business deals. The Golden State Warriors reportedly have the most lucrative deal at $20 million per year with Japanese e-commerce giant Rakuten.”
“This partnership is a connection of two ‘global culture icons’ of food and sports, and it is an important opportunity for Bibigo to emerge as a global food brand,” said Wookho Kyeong, CMO of CJ CheilJedang, Bibigo is a global strategic brand of CJ CheilJedang. “We look forward to the opportunities to communicate with consumers and increase the value of the brand through a global common language, sports and the Lakers.”
“The Lakers are thrilled for the opportunity to partner with Bibigo as our first ever global marketing partner,” said Tim Harris, President of Business Operations. “As Korea’s leading food brand, Bibigo is always looking for opportunities to innovate and expand their brand, and the Lakers are excited to help them to not only expand their global recognition, but to provide the opportunity to reach new fans.”
