Collegiate Licensing Company Extends Partnership with The Pennsylvania State University
ATLANTA, GA (January 20, 2016) – The Collegiate Licensing Company (CLC), the licensing affiliate of IMG College, today announced a multi-year extension of its global partnership with The Pennsylvania State University to continue managing the school’s successful trademark licensing program. Since CLC began partnering with Penn State in 1994, the school’s licensing program has generated nearly $55 million in licensing royalties.
“CLC has been a valuable resource to the University over the past three decades as we’ve worked to grow the Penn State brand,” said Maureen Riedel, Penn State’s Director of Trademark Licensing. “We are excited to renew our partnership and look forward to implementing CLC’s new and innovative ways to continue to connect our fans to Penn State.”
“Penn State is a partner that consistently utilizes CLC’s full suite of services – from retail development, consumer analytics and marketing to legal, corporate responsibility, public relations, and graphic design,” said Cory Moss, SVP and Managing Director for CLC. “The University taps into our team of experts to access the tools, knowledge, and data to assist in developing and executing a customized strategy to increase licensed product distribution and maximize Penn State’s brand value.”
Penn State is using CLC’s exclusive retail intelligence and consumer insights to identify new market opportunities and ensure long-term brand equity, Moss said. As a result, more school product is now available at retailers like Victoria’s Secret, and new licensees such as Vera Bradley, which produces premium bags, are signing on to produce Penn State gear. With CLC’s assistance, the number of retailers carrying Penn State product has soared: from 2,311 retailers in the 2013-14 fiscal year to 3,351 retailers in 2014-15.
New licensees for the University as of 2014-15 fiscal year include Panini (trading cards), Dooney & Burke (purses and accessories), and Alex & Ani (bangles/bracelets), among others.
Penn State ranked 17th overall among CLC partner institutions in gross royalty revenues in 2014-15. Licensing program revenue is up +19% compared to the previous fiscal year.
About Penn State
Penn State is a world-class public research university with a broad mission of teaching, research and public service. Ranked as one of the world’s top universities, Penn State serves nearly 98,000 students and attracts more than $800 million in research support annually. Its graduates of more than 160 baccalaureate degree programs are sought and valued by employers (The Wall Street Journal reported Penn State the Number One choice of corporate recruiters); and Kiplinger’s Personal Finance designated Penn State degrees as top value among public colleges. Through its 24 campuses, which include a medical college, two law schools, an online World Campus and a school of graduate professional studies, Penn State also generates more than $17 billion in economic impact. Penn State’s intercollegiate athletics program--with 31 unique sports programs--has one of the best overall graduation rates in the nation. For more information, visit http://stats.psu.edu/
IMG is a global leader in sports, events, media and fashion, operating in more than 25 countries. The company represents and manages some of the world’s greatest sports figures and fashion icons; stages thousands of live events and branded entertainment experiences annually; and is the world’s largest independent producer and distributor of sports media. IMG also specializes in sports training; league development; and marketing, media and licensing for brands, sports organizations and collegiate institutions. In 2014, IMG was acquired by WME, the world’s leading entertainment agency, to form WME | IMG.
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Contact: Andrew Giangola, IMG, 646-871-2401, firstname.lastname@example.org