Another route to growth is for the brand to broaden its product offering. Fashion brands tend to first become successful within a core category – clothing or bags, for example. Once the brand is established in its core category, expansion into complementary categories becomes an option, into areas such as footwear, headwear, eyewear, cosmetics, watches, jewellery and homeware. This presents the brand with challenges in designing and sourcing products outside of the brand’s core expertise and in distributing those products through less familiar channels. At this point a licensing strategy becomes attractive and is a route many of our clients have taken.
Our firm has been involved in the negotiation and management of many licensing deals across all of the categories mentioned above and with a global spread. We can act both for brands and for licensees. We pride ourselves in producing commercially pragmatic contracts that enable deals to succeed quickly, focusing on what is important and avoiding the contracting process becoming unnecessarily protracted.