How are you finding the licensing business in your territory?
During covid it was clear many licensees were careful in their choices. While the market has picked up and things like events and meet&greets are again becoming relevant, the market remains cautious: the licensees are focused on the top brands and consumer favourites more than before. However, locally new brands are emerging and as always the fragmented nature of the Nordics affects what the top brands are.
Has the UK leaving the EU affected your business in any way? If so, how?
UK partners were previously legally allowed to sell to all EU countries under free mobility of goods. This has changed: now UK licensees will need to specifically add a EU country to their agreement to be able to sell to the Nordics. This benefits local partners in the sense larger Uk based licensees won’t necessarily directly compete with them. Of course this does make sales to the UK more tricky for non-UK based IP owners. We are solving the matter by placing trusted sub-agents in the UK who will work with us to support the brands locally.
Supply chain issues because of Brexit and the conflict in Ukraine have become more difficult. Is this impacting on your business?
It is affecting our partners, so naturally it is also affecting us. We need to be very aware of the difficulties licensees may face in manufacturing and shipping goods to the Nordics. For licensors, this needs to be taken into account: being a good partner means supporting licensees if difficulties arise and negotiating deals in a way that doesn’t make business impossible or difficult for partners.
Which product categories are key to your market? Are there any new product categories that are emerging or you can see will emerge in the near future?
Toys and apparel as well as home goods remain top categories, but publishing has always been a valued and significant brand-builder in our markets. Nordic parents are very pro-reading; Books and magazines are ways to show parents the commitment from preschool brands to supporting kids’ growth and education.Audio publishing is huge in our market and this can also be seen in licensing: creating audio originals is increasing in popularity and becoming a very strong way to build brands in the Nordics. Live shows and meet&greets are growing in our markets as are other LBE opportunities. Local specialties are also becoming licensing opportunities: in food & beverage there are many local categories which do not travel but may be important in a specific country.
How do you see the future of licensing in your territory? What growth opportunities can you see? Are there aspects of licensing in your territory that are unique to your country?
Audio streaming is a huge opportunity for brands to build and increase awareness.Local specialties are also becoming licensing opportunities: in food & beverage there are many local categories which do not travel but may be important in a specific country.