The field of licensing is booming, to the tune of $370 billion in global sales last year. A collaboration between one brand that has a strong identity (say, a fashion designer or celebrity) and another with deep expertise in a certain field (say, fragrance), licensing is the hidden engine behind products like Elizabeth Taylor’s White Diamonds and Progresso Soup Drops.
To explore opportunities and challenges in the field, a top-tier lineup of creators, executives, professors, and designers—including alumni and academic advisory board members—appeared at the college for the Biannual FIT X Tracks Global Licensing Summit on Feb. 11.
Presenters dove into the legal, practical, and creative considerations in the area; forecasted trends; and offered case studies from brands including Mattel, Hasbro, and Sega. President Jason S. Schupbach spoke at the opening of the daylong conference, and Shannon Maher, dean of the School of Business and Technology, gave closing remarks.
The event was planned by the departments of Cosmetics and Fragrance Marketing; Film, Media, and Performing Arts; Footwear and Accessories Design; International Trade and Marketing; Textile Development and Marketing; and Textile/Surface Design, in conjunction with X Tracks.
Here are some takeaways from the event.
The power of story
“Everybody’s a fan of something,” said Laura Takaragawa, vice president of Consumer Products and Promotions at Viz Media, an entertainment company specializing in manga and anime, forms of comic books and animation that originated in Japan but have become global phenomena. “Authenticity, storytelling, is about extending brands—whether it’s sports or it’s fashion, there are brands out there using licensing as a way to extend what they do.”
For instance, when Burberry wanted to refresh its image in Japan, it did so with a manga that featured Lola, the Burberry bag, turned into a human protagonist, said Jessica Poce, senior business strategist in the Anime and Game Business at Kodansha, a major Japanese publisher.
Even the biggest brands can benefit from a collab
Barbie has been a globally known brand for decades, but the 2023 film elevated it even further. At one point in production, Mattel had 250 collaborations with design, retail, and hospitality partners, said Meredith Norrie, vice president and head of Global Licensing and Consumer Products Partnerships at Mattel. The film tie-ins ranged from Barbie-themed underwear sold on MeUndies to a Barbie Dreamhouse rental on Airbnb.
The year before the movie’s release, toys made up 70% of Barbie’s business, said Norrie. “We are now doing more through licensed lifestyle products than we are selling Barbie dolls, which is a huge testament to the narrative and the platform,” she said.
It’s logistically challenging
Because of the complex collaboration, sometimes involving hundreds of players across global supply chains, licensed projects can be susceptible to geopolitical upheaval—such as today, when U.S. tariffs are causing delays and cost overruns, multiple panelists shared.
“We get bottlenecks all the time. Half the job of some of our assistants and project coordinators is literally emailing the licensor saying, ‘Is this approved?’” said Yelena Mogelefsky, International Trade and Marketing ’99, senior vice president of Sourcing and Production at apparel brand Komar.
On the other hand, those who can juggle multiple items and keep a cool head will have a leg up in the field, said Effy Zinkin, COO of brand management platform WHP Global. “Licensing only works if everything is clear,” he said. —Irina Ivanova