Take more risks and try new things, panel tells licensing industry at LIMA gathering.
There is still a route to market for new brands and companies, but the whole licensing industry – including retail – should take more risks and try new things.
That’s according to a panel of big names taking part in yesterday’s (May 3) annual Spring Fling Question Time debate.
The debate was chaired by LIMA UK md Kelvyn Gardner and featured Denise Penn from Brandcomply.com; Tina-Louise Foster, founder of Nimbus Nine; licensing consultant Helen McAleer; director of Licensing Link Europe, Chris Taday; and Max Arguile, who this week revealed his new venture, Reemsborko.
Kelvyn asked what is the one thing they would change about the licensing industry in 2018, and across the board the response was more chances for newer and different brands.
“I’d like people to take more risks and try new things across the industry as a whole, including in product development,” said Helen.
Chris commented that for small and newer businesses, the challenge was about routes to market for brands. “It’s where do you see your product sitting and educating retail about your properties,” he said. “Consumers are not all looking for the same thing, so it’s making sure that different properties are being offered to them.”
Tina-Louise – who unveiled her plans for Nimbus Nine Consulting this week – said that it ultimately all comes back to offering variety and choice for the consumer. “It would be great to see retailers embracing choice and providing it so that consumers know it’s there,” she said. “There is lots of space for different licences.”
Max Arguile pointed towards the success of Funko’s varied portfolio of brands and its mantra of ‘everyone is a fan of something’.
“Where’s your point of difference as a retailer if you’re just stocking the same top five licences as everyone else?” he asked.
Denise added that licensing should also be more accessible for smaller companies. “It’s important to bring new people, companies and brands into the business,” she said.
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