LMCA’s Ciarán Coyle on delivering against a highly targeted plan, new brand signings and new office openings.
LicensingSource.net takes a temperature check on the global licensing industry, asking licensors and agents based outside the UK to share their highs and lows of 2022, their strategies for a successful 2023, plus the words they’d use to describe business in the year just gone and the new one.
Today, we head to the US, with Ciarán Coyle, president and ceo, LMCA.
“We anticipated this year being a transitional period as we came out of the pandemic and looked forward to an easing of supply chain issues and a rebuilding of consumer confidence. However, the challenges with overstocked retailers and the continued unpredictable nature of the supply chain meant that potential licensees were as cautious as ever and still reluctant to commit to long-term licences with significant minimum guarantees.
We are laser-focused on servicing our global corporate clients in 2023 and delivering against a highly targeted plan. We have signed some significant new brands in the past 12 months, including Castrol, Electrolux, AEG and Frigidaire. We also opened new international offices in Mexico, Brazil, and Europe (UK).
As many large companies have looked to consolidate their businesses in 2022 – also known less favourably as downsizing – they will need to rely more on external resources which, I anticipate in 2023, will lead to more opportunities for the right agencies to provide both strategic counselling and execution.
2022 was transitional. 2023 will be focused.”
This feature originally appeared in the spring 2023 edition of Licensing Source Book. To read the full publication, click on this link.
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