According to MGO Global’s first quarter earnings report, sales of Lionel Messi’s casual clothes line declined significantly in the first quarter of this year. This is the final period in which MGO Global, the Ginny Hilfiger-led creator of the soccer hero’s brand, owns rights to the Inter Miami star.
Messi Brand sales totaled $83,280 in the first quarter until March 21, when the business sold the brand’s license to Centric Brands, owned by Blackstone. According to MGO’s statement with the Securities and Exchange Commission on Tuesday, the company sold $289,555 worth of Messi gear in the entire quarter ending March 31, 2018.
A representative from MGO Global did not immediately reply to a request for comment.
The figures look to be the poorest period for Messi brand sales since the beginning of MGO’s collaboration with Messi. MGO went public little over a year ago, capitalizing on Messi’s World Cup success with Argentina. Prior to that, the company did not release quarterly results breakdowns. Last year, the Messi Brand sold a total of $1.69 million in coats, t-shirts, and hoodies, among other goods, a 69% increase over 2022, when MGO sold $1.05 million Messi apparel.
In 2018, Hilfiger, a well-known designer and executive with experience at her brother Tommy’s eponymous company, teamed up with Maximiliano Ojeda, a native Argentine with a connection to the soccer star, to license Messi’s name and likeness for non-sports clothing and gear.
However, sales volumes were insufficient to meet MGO’s production costs and Messi’s royalty obligations. MGO was paying Messi approximately $1.298 million in minimum royalties per year under their deal, which expires in December.
GET MORE NEWS ON:
FAFATALLTIMESPORTS
