The Beanstalk helps its clients in partnering with other brands to reinforce the brand’s name and to help them generate more revenue. Nicholas Bloom, Associate Vice President, The BeanStalk Group enlightens us and the retailers about licensing in India.
Aparna Sharon Isa Dass (ASID): Tell us about your company ‘The Beanstalk’
Nicholas Bloom (NB): We are recognised as world’s leading licensing agency and has its presence felt internationally. We have base in New York, London, Michigan, Hong Kong, Australia and now in India.
ASID: How important is brand licensing to a retailer?
NB: Brand licensing is incredibly important however it depends on each retailer, whether to be or not to be a part of it. However to generate more revenue and to make the brand more popular, brand licensing is the perfect way to grow. For instance the launch of Harley Davidson merchandise draws more attention than any other motorcycle name would.
ASID: What is the right procedure for a retailer to follow while stepping into brand licensing? Is it always through an agent?
NB: The right procedure does not involve an agent every time; a retailer can go ahead with the brand licensing procedure himself as well. However using an agency’s services could be beneficial and less stressful as the agent has the expertise, global reach and knowledge about the market and its strategies. The procedure is simple when looked upon; an agent helps the retailer, be it licensor or licensee from the point of choosing merchandising partner till placing the product on the shelf for sale.
ASID: Could you mention the clientele you cater to?
NB: We have a variety of clients to cater to; few of them are Harley Davidson, Max Factor, Procter & Gamble, Mustang, Jaguar, Samsonite, American Tourister, Ford, Volvo, Lee Cooper, Land Rover, Paris Hilton, Salma Hayek.
ASID: Do you feel that the Indian market has a scope for brand licensing?
NB: Absolutely, we would not be here if we did not see the potential in this country. And as I may say in one word, the opportunity for retailers and agencies like ours is ‘tremendous’. The concept is fairly new and the promise it holds for the retail market is moving towards a bright future.
ASID: Is a retailer or licensor at risk while giving his name to a licensee for any merchandise?
NB: There is absolutely no risk to a licensor or a licensee if the procedure is done correctly, with the right diligence, a carefully constructed strategic plan and prudent selection of partners, brand licensing cannot be a risky business at all.
ASID: Does each retailer according to you needs brand licensing?
NB: Brand licensing is different for all, it does not come under the category of ‘one size fits all’. Every retailer has his brand requirements, some may need brand licensing to enhance their brand name and promote it further, some may be happy with what they have achieved by themselves.