The Los Angeles Lakers and Korean food company Bibigo announced a multi-year partnership on Monday, with the brand appearing on team jerseys from the 2021/22 season.
Bibigo is owned by the CJ Group, a huge conglomerate. The deal is said to be worth $ 100 million over 20 years.
Bibigo will be the kit patch sponsor for the Lakers, with their logo appearing on the top left of the shirt, across from Nike’s logo.
“This partnership is a marriage of two ‘global cultural icons’ of food and sport, and it is an important opportunity for Bibigo to act as a global food brand,” said Wookho Kyeong, CMO of CJ Corporation, in a press release. “We look forward to the opportunities to communicate with consumers and add value to the brand through a global common language, sport and the Lakers.”
In 2017, unfortunately, the NBA began allowing teams to put sponsor logos on the upper left portion of the jersey. Keeping the jerseys ad-free was one of the things that big US professional sports leagues did differently from foreign leagues. This will be the Lakers’ first international partnership, and it looks like it will be a very profitable one.