Beanstalk LATAM: At the Intersection of Corporate Brands and Licensing
Ivonne Feliciano, AVP, Business Development and Marketing, tells Total Licensing about Beanstalk’s plans in LATAM
In its 30th year, Beanstalk continues to expand its expertise in corporate brand licensing across the world with a specific focus on further enhancing opportunities for its clients across the LATAM region. A key pillar of Beanstalk’s success has been its ability to identify growth opportunities for its global clients. “Whether the opportunities are extending into a new category, distribution channel or country, our team understands the brand’s goals and finds the right market opportunities for our clients,” says Beanstalk President and CEO Allison Ames.
Throughout LATAM, the licensing model is widely used across the entertainment, sports and celebrity spaces, but less so with corporate brands. Licensing International’s Global Survey demonstrates that corporate brand licensing in LATAM grew 25% from 2019 to 2021 with major gains across the region and significant double-digit growth in Brazil (+25%), Chile (+39%) and Colombia (+50%). Beanstalk LATAM focuses on the intersection of corporate brands (the licensing of company names, logos, trademarks or brands, e.g., Black & Decker, Baileys – two of Beanstalk’s clients) and retail dynamics where licensing can serve as a solution to build long-term brand awareness and consumer loyalty, find and gain new consumers, and build a presence in new channels of distribution, all while generating incremental revenue and protecting trademarks.
With great licensing opportunities across LATAM also come challenges. The majority of countries in LATAM may speak one language but there are regional and country differences in culture, economies, legal and political structures, market and retail dynamics, consumer attitudes, shopping habits, trends and many other factors. All these factors play into the potential success a brand owner can achieve with licensing their brand in LATAM. This is in addition to the process of educating some partners on the basics of licensing, specifically with manufacturers. Manufacturers that specialize in product categories outside of entertainment, sport and celebrity extensions are at the beginning of the licensing learning curve and are beginning to understand the value that licensing a brand for their product line delivers. Licensing provides manufacturers an advantage over competitors by diversifying their product offering (price point, quality, positioning, etc.), attracting new consumers, gaining additional retail space and diversifying their revenue streams.
Beanstalk LATAM is currently working with Beanstalk’s global clients across hard goods, gaming, food and beverage and FMCG categories to develop (or further develop in some cases) the licensing programs in the region. “To develop a successful licensing program in LATAM, a localized strategy by country or region, depending on the brand’s presence, must be established. We have done this for the clients we are currently working with, as well as new clients we are onboarding to LATAM. The strategies will always ladder up to global brand goals and objectives while considering the local brand perceptions and nuances that will determine consumer acceptance of licensed products,” says Carolina Verdugo, AVP, LATAM.
Beanstalk has honed its operational practices over 30 years to drive business growth and brand saliency across markets. In addition to the agency’s best practices in licensee prospecting and management, Beanstalk offers comprehensive legal and financial services to support the development and growth of its clients’ licensing program. “The Beanstalk LATAM team leverages the agency’s foundational resources and applies their knowledge of the region, market-by-market, to identify, educate and develop long-term licensing partnerships with the best-fit manufacturers for clients. Ideal manufacturing partners for licensing understand the value of licensing a brand, abide by the terms of the agreement, have strong retailer relationships, a commitment to innovation, and are aligned with pursuing a comprehensive brand and marketing approach alongside the brand owner,” says Ivonne Feliciano AVP, Business Development and Marketing, LATAM. Beanstalk LATAM is also leveraging the power of its parent company, Omnicom, to find synergies between licensors and licensees, develop unique retail solutions, and deliver innovation across categories.
Read this article in the Autumn/Fall 2022 issue of Total Licensing!