Stran & Company Inc. (NASDAQ:SWAG) experienced a nearly 10% increase in its stock price on Friday after confirming a three-year contract extension valued at several million dollars with a prominent nonprofit running organization. This renewal guarantees Stran’s role as the official merchandise provider for one of the globe’s most distinguished marathons and various high-profile running competitions hosted by the organization.
The extension not only secures steady and foreseeable income for Stran over the upcoming three years but also aligns with the company's strategic objective to foster lasting partnerships with elite organizations and notable events. The company's involvement in supplying branded merchandise for such a prestigious marathon highlights its operational capabilities within the sports and experiential marketing sectors.
Andy Shape, Chief Executive Officer of Stran & Company, emphasized the significance of this partnership stating, "This multi-year extension with a globally recognized running organization is a strong validation of our capabilities. Managing merchandise for an event of this magnitude demands meticulous precision, dependable performance, and the ability to meet rigorous deadlines. Our agreement provides meaningful revenue visibility and advances our standing within the sports marketing vertical."
The nonprofit organization involved is recognized internationally and operates numerous races annually encompassing events for both adults and youth. Its flagship marathon routinely draws participation from tens of thousands of runners, underscoring the scale and prestige of the events supported by Stran.
This contract renewal builds upon a well-established collaboration, illustrating continued confidence in Stran’s ability to deliver on complex and large-scale merchandise programs essential to world-class sporting events. The sustained partnership ensures continuity in servicing one of the most recognized names in community-based running worldwide.