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Thu November 15, 2012
OSU Agrees To Two Apparel Deals
Ohio State university says apparel partnerships
with Michigan-based sportswear company J. America and Florida online retailer Fanatics Incorporated guarantee 97 million dollars for scholarships and student groups during its 10-year agreement. The deals announced today includes an upfront payment of 23 million. J. America is an Ohio State licensee, and Fanatics already operates an online store for the athletic department. The school is implementing a new business model for apparel, which constitutes two-thirds of its 9 million dollars in annual revenue from trademarks and licensing. OSU says the companies were chosen after demonstrating commitments to Ohio-based business and socially responsible practices. Students last week protested over the possibility of a contract with Silver Star - the merchandising arm of the Dallas Cowboys. Students say that firm supportssweatshop labor.