Licensing now accounts for more than $175 billion in global retail sales . Licensing is a tool used to make money by loaning out your name & logo to another company that will actually manufacture and distribute the goods.
It is a contractual deal to permit use of a brand in association with a defined product, for a defined period of time, in a defined territory.
Licensing is the process by which a brand / property owner extends a trademark or character out of its regular environment of doing business and onto products of a completely different nature.
Ralph Lauren started as a tie company. As the company expanded, they expanded via licensing to extend their brand. The company "licensed" their name, trademark, brand image to companies that sold cosmetics, for example, to create the broad line of Ralph Lauren fragrances.
Watch companies for example make big money deals to create cute novelty watches based on Sponge Bob, Elvis, Betty Boop, Barbie, movie tie-ins, etc.
Licensing can boost your business by expanding your company's market reach, creating new revenue streams, build your global awareness, develop new promotional & retail partnerships.
And Bobble Heads now exist for every type of character ranging from sports figures to cartoon characters and so on. The company signs deals with cartoon companies, etc. to manufacture the items, market and distribute them.
Bobble Heads date back to 1842, but it was the Willie Mays Bobble Head of 1998, that started to generate new excitement for the fun figurines.
Once you develop your brand, you can work to become a viable candidate for these lucrative licensing deals. Work on establishing your branded presence in the marketplace and the licensing deals will follow!
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