Licensing in India has enormous potential with many international players eyeing it as a lucrative market. Sana Jaffri explains.
While the figures are small compared to other international markets, India is on the fast track to establishing itself as a strong potential market in the future world of licensing. Brands with strong consumer recognition, relevance and loyalty have successfully extended into new product categories.
Gaurav Marya, president of License India, said: “Brand extensions are flourishing for a number of reasons. More and more companies today realise that one of their most valuable assets is the brand, and not just their technology or other tangible assets. A strong brand commands loyalty, emotions, preference and associative powers, which are hard to duplicate by the competition. The brand is the USP for many products today.
Also, in the much cluttered marketplace, where it is very expensive and timeconsuming to get brand recognition and brand affinity, many companies choose brand extension licensing to launch new products, by leveraging the power of existing strong brands.” Licensing in India has grown to become a multi-purpose marketing strategy, with a plethora of brands and manufacturers increasingly exploring this space. India is a progressive market for brands, characters, entertainment, fashion, sport and art.
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India, brand licensing, clothing, entertainment