The advertising chief at Gucci, Kalvaria, is moving to Fanatics' gaming division.
Selena Kalvaria is switching from the world of high-end fashion to the realm of sports betting, as she has recently been hired as the Chief Marketing Officer (CMO) at Fanatics Betting & Gaming. She spent the past three years in a similar position at Gucci.
The Wall Street Journal announced this news on a Wednesday. According to her LinkedIn profile, Kalvaria began working for the betting division of Fanatics last month and has no prior experience in the gaming industry. Her career started in 2008 at Credit Suisse, where she was an associate in international equities trading.
Kalvaria is taking on this new role at a crucial time for Fanatics Betting & Gaming. This privately-owned company made a name for itself in the sports apparel and merchandise industry but has recently expanded into the US iGaming and sports wagering sectors. Although the company has substantial financial resources and widespread brand recognition due to its "officially licensed everything" tagline, it has yet to make significant headway in the states where it offers betting.
This isn't necessarily a sign of failure for Fanatics, as most companies in the US online sports betting industry are struggling to compete with the duopoly of DraftKings and FanDuel. However, it does mean that Kalvaria's job will be anything but easy.
Possible Growth in Female Sports Bettors
The former Gucci official joined Fanatics Betting & Gaming at a moment when data show women are placing more bets on sports, particularly women's sports like the WNBA and women's college athletics.
For years, women have been neglected by sportsbook operators, but the tides are turning thanks to the rise in popularity of the WNBA and women's college athletics. With Fanatics' reputation as an apparel company that caters to women, they already have a strong base of female sports fans.
Kalvaria addressed this intersection between female athletes, sports, and fashion in an interview with Katie Deighton of the Wall Street Journal. "We have a huge commerce business," she said, "(female athletes) and sports and fashion are all intertwined."
Despite her hiring, it's still unclear whether a female executive will be the key to attracting more female bettors to Fanatics.
Challenges Ahead for Kalvaria
Kalvaria finds herself at Fanatics Betting & Gaming during a period when online betting companies are bracing for increased taxes in some states. To mitigate the impact on profit, they'll need to reduce their marketing and promotional spending. Therefore, Fanatics' new CMO may have to rely on her creativity to draw in new customers.
In addition to dealing with potential tax hikes, Kalvaria will face different consumer demands and demographics than at Gucci. While Gucci's luxury fashion designs set them apart from competitors due to their unique and stylish offerings, success in the sports betting industry relies more on technology and how an operator distinguishes itself in this area. If she can find ways to stand out in this aspect, Fanatics might be able to establish themselves as a credible long-term competitor to DraftKings and FanDuel.
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