Co-branding adding to franchise profits
Products especially kids products like footwear, tiffin boxes, t-shirts, toys, bags etc are identified and sold by the name of the cartoon characters imbibed on them. India today is a witness to the flood of such products, as brands owners and manufacturers are not leaving even a single stone unturned to grab the maximum share of kid’s attention. Earlier brand name used to be sufficient enough to encourage anyone of buy any product. However, today branded products carrying the logos of some cartoon character, TV channels etc are attracting more attention. Realising the ever increasing craze among children as well as youth towards these products, retailers, manufacturers, franchisors and business owners are initiating this as the newest marketing strategy for increasing footfall. Franchise brands, being an integral part; have also started adopting this strategy by tying up with popular kids and youth channels.
Brand Licensing and Character Licensing
The process of creating and managing agreements between the brand owners and a company or individual interested to use the brand in association with a product, for a fixed period of time, within an agreed territory is called brand Licensing. Character Licensing is another big licensing segment of brand licensing in India.
Tying up of any franchise brand with a popular channels or youth icon can be favourable for both the parties concerned. It can be one of the best marketing strategies to increase sales for any brand. In addition it can be helpful for the TV channel as it makes them more connected to normal people and their daily lives. Youth as well as kids feel closer to their icons on TV by using and wearing products which have imprints of their favourite characters or channels. As shared by Shiv Inder Singh, Managing Director, Firefox Bikes, “A tie up between an established brand like Firefox Bikes and a youth channel, MTV is a win-win situation for both the parties concerned. MTV is a youth channel attracting the age group of 15 to 25 and this age-group children are our perfect targets. Thereby it would really increase our sales as well as popularity of MTV.”
Franchise brands taking licensing strategy
In a recent development Firefox Bikes, Indian leading leisure biking company and MTV, India’s youth brand, are ready to hit the road with the launch of their latest range of co-branded adventure bikes. Priced between Rs 10,000 to 16,000 the collection is a world-class advancement yet mid-segment range that makes it an affordable buy for youngster who prefer motorbikes instead of cycles to get to college or work. Firefox Bikes presently have a network of more than 90 outlets pan India, in which around 80 are franchised outlets.
Speaking on the development Sandeep Dahiya, Sr. Vice President - Consumer Products, Viacom18, informs: "We are delighted to partner with Firefox, to launch MTV range of adventure bikes in India. The launch of MTV adventure bikes also marks the beginning of extending MTV licensed products in unconventional categories and 2012 is going to see more and more of that."
To gain attention from youth towards the bikes, the newest range was unveiled in New Delhi by MTV VJs Bani J, Rannvijay, Nikhil Chinapa and Roadies Season 9 winner Vikas.
Inder Singh expresses: “Extending our lineage of high end bikes this time in collaboration with MTV will certainly expand our market share; as MTV enjoys huge brand loyalty amongst the youth. These new bikes have specially been designed keeping in mind the generation next."
MTV consumer products extends into more than 16 categories with eye-wear, bags, stationery & paper, debit cards, mobile phones, bed-linen and helmets, amongst others.
In another development Metro Shoes, one of the largest fashion footwear retailers in India and Nickelodeon, are set to launch a new range of vibrant Dora the Explorer footwear. The colourful range of shoes is priced from Rs 299 to Rs 999 and will be available across a network of 175 Metro stores in India. The footwear collection has a perfect mix of stylish details which are available in flip-flops, crocs, trainers and more; in over 7 styles and sizes.
Dorathe Explorer, a lively and curious 7 year old and a favourite amongst little girls across the world, is featured on the colourful shoes that are designed for children aged between 2-9 years. Farah Malik Bhanji, Executive Director, Metro Shoes Ltd, “This is one of the exciting opportunities that we came across, and are extremely happy to be associated with Nickelodeon to launch this new Dora range of shoes. With this association, we aim to create a completely different offering for kids and hope that the vibrant designs create a benchmark in the retail space.”
To conclude it can be said that such marketing strategies are being adopted by retailers and franchisors across the nation due to its benefits for both the brands as well as consumers who aspire for a better lifestyle.