Universal Parks & Resort Merges Two Key Businesses
In a strategic expansion of its global consumer products and retail business, Universal Parks & Resorts has announced that it has merged two of its key businesses to create a new division, Universal Products & Experiences (UP&E) division – further deepening its connection to fans, consumers and guests with high-quality, fan-first products and retail experiences across the globe.
UP&E’s overall mission is to extend the company’s characters and stories by bringing them to life in immersive experiences, in product categories such as toys, collectables, books, apparel, lifestyle categories, video games and digital initiatives like NFTs and more. UP&E activates the business through world-class licensee partnerships or through direct operations, and across its expansive theme park locations, e-commerce platforms, live-entertainment venues, and retailer relationships around the world. The division will be led by current Universal Brand Development president, Vince Klaseus and report directly to Mark Woodbury, Chairman and CEO, Universal Parks & Resorts.
“Joining these two talented teams into one group creates a powerhouse division focused on compelling consumer products and experiences both inside and outside our theme parks,” said Mark Woodbury. “Our goal is to create products and experiences for fans that are as innovative and compelling as our lands and attractions. This team can now deliver and execute that on a much larger scale.”
“We’ve built a robust, successful, and expansive CP business over the last few years, and now by combining the creativity and innovation capabilities of the theme park’s direct consumer and retail skills, we’re going to take our collective business to new heights for consumers, our team, and the company overall,” said Vince Klaseus. “2022 has been a phenomenal year for our CP business with properties like Jurassic World, Minions, and Gabby’s Dollhouse taking off to new heights. That strength plus the phenomenal theme park performance and guest experiences makes this team coming together even more powerful. I can’t wait to see what we will accomplish together with the combined team focused on new areas of growth and collaboration across physical and digital product categories and retail.”