A license is an agreement through which a licensee leases the rights to a legally protected piece of intellectual property from a licensor – the entity which owns or represents the property — for use in conjunction with a product or service.
Licensing is defined as the process of leasing a trademarked or copyrighted entity (known as a “property”) for use in conjunction with a product, service or promotion. The property could be a name, likeness, logo, graphic, saying, signature, character or a combination of several of these elements.
A leading lifestyle brand and one of the largest designer brands globally has extended its name from apparel to watches, eyewear, inner wear, handbags, fragrances and accessories. The brand started from jeans and men’s sportswear in 1984, licensed its name into women’s clothing, eyewear, jewelry, fragrances and home products. By the end of the 1990s, the company had revenues to the tune of nearly $2 billion a year and the brand is still one of the biggest in the world.
A premium apparel marketer, with a vision to become a market leader by enhancing its turnover and creating a pull for its products entered into a licensing arrangement with international lifestyle apparel brands such as Esprit, Louise Philippe, Allen Solly, Peter England, and many more. With the brand power backing the company’s products, it now envisions to be crowned as an undisputed leader in the Indian lifestyle industry.
Many prominent manufacturers targeting kids
With a vision to boost their growth percentages adopted licensing as a successful tool by taking Disney’s character licenses and thereby making their product range popular amongst kids. Utilizing the power that these characters bring to their products, they were successfully able to beat their rivals in the same domain.