LicensingSource catches up with a number of brand owners to find out how 2021 has been so far, their views on the retail environment and the challenges and positives as we move through the second half of the year.
Today: Claire Gilchrist, vp consumer products, Hasbro.
Hasbro has been busy working on a variety of location-based experiences including the August opening of Monopoly Lifesized in London.
My Little Pony: A New Generation will premiere on Netflix in September and several softlines deals are in motion including Morgan Lane, Alex Woo and a capsule collection at Rue 21 stores. The company has also deepened its relationship with Reebok following its successful Power Rangers collaboration with upcoming launches for Peppa Pig and PJ Masks.
“Early in the pandemic we were quick to pivot to a digital-first approach, working with ecommerce partners and enhancing our capabilities in the space – and we think those new strategies will continue to benefit us as the world returns to a new normal,” Claire Gilchrist, vp consumer products at Hasbro explains.
She continues: “Like many industries, we have been challenged by container shortages and shipping delays and have been working closely with our licensees and retailers to manage. It is also difficult to forecast inventory needs accurately as consumers return to a new normal, so we have put more resources toward inventory management.
“Another challenge has been to smartly navigate the highly competitive pipeline of delayed theatrical releases and tentpole events. We’re working closely with our partners and retailers to support them through delays, and drive consumer demand and engagement for the launches.”
However, Claire is also keen to point out the positives: “Also, with optimism for a post-pandemic world, we’re finding that many of our retail partners are already seeing strong licensing growth and great momentum as we enter the second half of the year and plan for 2022. There continues to be a strong demand for our beloved franchise brands across our portfolio. As consumers seek comfort during these uncertain times, it’s no surprise that nostalgia remains an important global trend that we continue to tap into.”
This feature originally appeared in the summer 2021 edition of Licensing Source Book. To read the full publication, click on this link.
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