Panini suing Topps for poaching employees?

[dantzig]

Here's an interesting article about how Panini lost several high-level employees to Fanatics (Topps) in the USA and is obviously not happy about it.

Panini Has Sued Fanatics For Poaching Employees - Cardlines

Panini has filed a lawsuit against rival Fanatics. But why and what is the likely resolution?

cardlines.com

 

[chriswiggy]

Here's an interesting article about how Panini lost several high-level employees to Fanatics (Topps) in the USA and is obviously not happy about it.

Panini Has Sued Fanatics For Poaching Employees - Cardlines

Panini has filed a lawsuit against rival Fanatics. But why and what is the likely resolution?

cardlines.com

I am posting this article here because it mentions the continuing disagreement between Topps/ Fanatics and Panini over the alleged poaching of Panini employees. I suppose if Topps did buy Panini it would no longer be a problem! If you want to move the article to a different/new thread, please go ahead.

Panini to explore strategic options, including possible sale | cllct

Panini Group has selected Citi as its financial adviser during process

www.cllct.com

 

[GStephens]

This would be terrible news. Not because it is Topps/Fanatics, it would be equally terrible if it was just Panini.

Competition is what keeps companies honest and forces a good product. We need more companies not less. Even as it is now, Topps and Panini can afford to churn out sub-standard collections because there is no competition to what they are releasing. Panini can throw out poor FIFA 365 collections with half as many limited editions as there are cards in the collection because there is no competitor to that collection. Topps can do the same with some of their collections because Panini cannot even try to touch the collections for a number of years. Even when a license is held, the first collection is usually a sign of intent (Euro 2024 being a BIG anomaly) and then collections tend to be meh until the license is near renewal when all of a sudden it matters again. I don't know much about the US market and NFL/NBA etc which I don't follow.

It is hilarious that in the article it says "Panini America sued Fanatics in 2023 for antitrust violations, alleging the company has created a monopoly in the industry." but they are considering a sale, which could only realistically be to Fanatics, which would create an even larger one. They have clearly valued their company more than their own revenue to generate a higher price, even if it is counter intuitive to their own lawsuit.

I think this sale will end up happening and it will be awful for everyone except shareholders at Fanatics. Quality absolutely would decline when there is no alternative, we see that in every industry on Earth and this will be no exception.

 

[Peakster]

The day that sale goes through.......

That's the day that I will finally stop collecting cards and stickers for good.

 

[dantzig]

I am posting this article here because it mentions the continuing disagreement between Topps/ Fanatics and Panini over the alleged poaching of Panini employees. I suppose if Topps did buy Panini it would no longer be a problem! If you want to move the article to a different/new thread, please go ahead.

Panini to explore strategic options, including possible sale | cllct

Panini Group has selected Citi as its financial adviser during process

www.cllct.com

It's a follow-up of the news I shared, so definitely stays here... thanks for sharing new developments.

Competition is what keeps companies honest and forces a good product. We need more companies not less.

I can't stress enough that this is what makes any type of business running + constant accountability. Without these driving forces, it'll inevitably end in cartelization, blocking competition and making these companies earning more for less quality.

It's something that actually bothers me in any matter, how tables turn when you're in power or not... those who are not demand equal rights and more protection from the big fish, but when they are the ones leading, they turn the same as what they criticized before... So in my pov, both Panini and Topps are 100% guilty for not providing a healthy competitive environment that should benefit the customers.

 

[LFC1892]

The day that sale goes through.......

That's the day that I will finally stop collecting cards and stickers for good.

i will be joining you.
collections by both companies been in decline for a few years now with more emphasis on "rare" cards than ever, just to fatten the bottom line.