Caravanserai Partners’ Guillem Rey discusses how the pandemic has affected businesses in Spain and Portugal.
The COVID-19 pandemic has affected every country across the globe.
LicensingSource.net has been catching up with a selection of licensors and licensing agents from Europe, the US and Russia to find out more about how their businesses have been affected and how they see the rest of 2020 playing out.
Today, we head to Spain and Portugal to get the views of Guillem Rey of Caravanserai Partners.
“In Spain and Portugal it has caused an enormous impact at all levels. Obviously, the fact that everything stopped all of a sudden has collapsed the market for almost three months. It‘s only now that we can start to see movement because the people are allowed to move and stores have opened again under severe restrictions. All activities related to tourism are suffering a lot, while others have been able to manage it somehow.
A high percentage of companies were forced to reduce staff thanks to a special law that allowed them to do it to reduce costs. Others have simply closed. Limited amount of companies have been able to pass through without damage.
Our activity has not stopped, as working from home is easy for us. We have been dealing with all partners, trying to help and find solutions to payments, renewals pending specific situations and so on. I am happy to say that all our licensors have proven to be helpful and positive and we have not left anyone behind.
We have to learn from our medical staff and how they reacted and faced the problem without the proper tools.
We have to do the same and I am fully convinced that licensing, one way or the other, will be as important as it used to be, even if it is under new rules and parameters.”
This feature originally appeared in the summer 2020 edition of Licensing Source Book. To read the full publication, click on this link.
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