_________________________________________________________________________________________ Brand licensing but no experience licensing brands . An off-price retailer had approached them with an ask : produce a cookware line under a familiar brand name that would resonate with health-conscious consumers . What brand would work ?
After extensive ideation and due diligence , we set the manufacturer up with a wellknown lifestyle and cooking magazine brand that appeals to a broad demographic . That same brand name had the potential to be sold outside of the off-price retailer – in fact , the products were so successful that they began distribution at other retailers , including Target .
With that success , the manufacturer wanted to continue along the licensing road , this time with sights set on a brand that would appeal to Gen Z and millennials . We needed to find a brand that could tap into the same buzz and excitement that was happening on social media . We identified a brand ( owned by a digital media company ) that was known for its 30-second cooking videos and the manufacturer partnered with the brand to launch a full line of licensed cookware , bakeware and kitchen gadgets at Walmart . To drive sales and consumer engagement , Walmart and the digital media company collaborated on advertising and promotions . As an added bonus , the success of this line led Walmart to work with the manufacturer on production of some of their own private labels .
Brand power
On top of that , the manufacturer secured a second brand from that same digital media company for the department store channel , aimed at a more mature home cook who prioritized healthy eating – rounding out its brand portfolio across distribution channels and demographics .
Manufacturers should also keep in mind that working with an experienced agency partner can help unlock the benefits of licensing faster and with less effort on the part of the manufacturer . The right agency partner will take a strategic approach to licensing-in the best fit brand . They will work with the manufacturer to home in on the goals and objectives , evaluate potential brands against set criteria and help the manufacturer develop a business proposal – and even assist with the negotiation of favorable deal terms once the right brand is identified . Since manufacturers generally don ’ t have in-house licensing teams , agencies provide much-needed
foundational know-how and expertise .
Harnessing the power of a brand can transform a manufacturer ’ s business . In today ’ s competitive retail environment , smart manufacturers can leverage licensing to diversify and differentiate , with powerful results . ■
Maya Kobray & Caren Chacko www . beanstalk . com
Caren Chacko is Senior Vice President of Brand Management , and Maya Kobray is Associate Vice President of Brand Management at Beanstalk . Beanstalk , a global brand extension licensing agency , works closely with clients to unlock brand equity and create many of the world ’ s most recognizable products and services . It helps leading brands , celebrities , media properties , manufacturers and retailers creatively find ways to strengthen their relationship with their most important stakeholder – the consumer . Beanstalk offers a breadth of services across its practice areas , including brand representation , digital media representation ( Tinderbox ), manufacturer representation , cultural intelligence , creative services , legal and financial services , and royalty auditing . The company is headquartered in New York , with offices in London , Miami , Cincinnati , Mexico City and Sao Paulo , and affiliates throughout the world .
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