✅Licensing can extend a brand into new categories, areas of a store or into new stores entirely. It is a way for brand owners to increase their current fan base and move into new businesses without major investment in new manufacturing processes and also allows retailers and manufacturers to stand out from the competition and offer consumers the hottest brands as well as drive sales
From “Pokemon” action figures to NFTs featuring Crayola, the potential to leverage a brand for licensing or license out a beloved brand can deliver revenue and brand awareness to all parties involved. The licensing industry is valuable for both brand owners as well as retailers and manufacturers.

With the industry reaching over $292.8bn in sales in 2019, companies large and small are all reaching new heights thanks to licensed merchandise.

🔗Source: https://www.licenseglobal.com/what-is-brand-licensing