It comes as part of the Japanese lavatory giant strategizes going global
The sponsorship will last 3 years. Under the terms of the deal with LIXIL, Nishikori will wear LIXIL’s logo in all international and domestic matches, and Nishikori will appear for company’s promotional events.
Last year, LIXIL Group paid about $342 million for American Standard Brands, a 138-year-old U.S maker of toilets and kitchen fixtures. It also spent $4 billion acquiring Grohe, Europe’s biggest bathroom installations maker, making the largest ever investment by a Japanese company in Germany.
Those deals, together with Nishikori’s endorsement, are giving LIXIL a worldwide footprint, as the company has been seeking to expand markets in America, Europe and China. They have set a goal of doubling profit margins and revenues to 8% by the middle term, and plan to lift overseas sales to more than $8.3 billion in 2021, from $656 billion in 2014. According to company CEO Yoshiaki Fujimori, more aggressive M&As to come will play a vital role in achieving LIXIL’s ambitious goals.
As the most popular athlete in Japan, Kei Nishikori will play in Barcelona’s Open Banc Sabadell wearing LIXIL’s logo, a clay-court tournament he won last year. The 25-year-old superstar also already has contracts with Tag Heuer watches, Nissin cup noodles and Uniqlo.