Hanesbrands Inc. enters apparel partnership with University of Cincinnati
today Mar 5, 2019
Hanesbrands Inc. has reached an agreement with University of Cincinnati (UC), the home of the Bearcats, to become the school's primary licensee for apparel products.
The partnership, made in collaboration with UC's exclusive trademark licensing agent, IMG College Licensing, covers Cincinnati-branded men’s, women’s, youth, and infant/toddler apparel across all retail channels. According to a press statement, the deal ensures the university has greater control over the supply chain along with stability in licensing income over the next six years.
Furthermore, the agreement provides the university a minimum guarantee that ensures more than a 20% growth in apparel royalties following the 8% growth the university experienced during the past three years.
UC will gain access to academic resources through internships and the involvement of Hanesbrands executives in university programs and projects, as well as resources to grow Cincinnati product in the marketplace. Hanesbrands will also fund annual corporate social responsibility (CSR) trips for Cincinnati staff to visit and review factories.
"As the retail landscape continues to evolve, especially with the growth in online sales, it’s important that we partner with best-in-class licensees, like Hanesbrands, that are committed to growing the Cincinnati brand and delivering additional resources back to the university," said Martin Ludwig, Cincinnati’s director of trademarks & licensing, in a release.
Hanesbrands has been a licensee of Cincinnati under its Champion label since 1992, and the new deal represents a continued effort by the Cincinnati licensing program to strategically manage the university’s brand.
Alongside the new agreement, Cincinnati will continue its partnership with Under Armour, which acts as the exclusive supplier of uniforms and apparel for the school’s varsity teams, coaches, and staff. The university's other current semi-exclusive headwear partnerships, as well as programs with other licensees in select product categories, will also continue.
Cincinnati began managing its brand through IMG College Licensing in 2005. The university's Trademarks & Licensing division has generated more than $15 million in royalty income from the sale of officially licensed merchandise with UC’s brand, which the academic institution uses to support scholarships.
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