In a move to turn around its declining revenue, Sharper Image Corp. is talking with several retailers and manufacturers about licensing the Sharper Image brand and other intellectual property, including product patents and trademarks, Sharper Image said today. John Spotts, a former executive with Goodyear Tire & Rubber Co., The Coleman Co. and Woolrich Inc., will head the new licensing division as senior vice president of brand licensing.
“We’ve generated a lot of interest in advanced talks with manufacturers and other retailers,” a spokesman tells InternetRetailer.com, adding that he was unable to name the potential partners. He adds that a retailer partner would be able to work with a manufacturer to develop exclusive products for sale through its own channels as well as through Sharper Image’s stores, web site and catalog. Sharper Image is No. 87 in the Internet Retailer Top 500 Guide.
The licensing opportunities cover Sharper Image’s entire product line, which includes
the categories of consumer electronics, home furnishings, toys, personal care, travel and gifts. “I believe there are a significant number of diverse product categories that have yet to be explored, and I look forward to seizing these licensing opportunities to further strengthen the Sharper Image brand,” Spotts says.
Sharper Image’s Internet sales for the fiscal year just ended on Jan. 31 fell 21% to $85.2 million from $107.2 million, as total sales fell 22% to $507 million from $650 million. The company has been reporting declining sales since early 2005.
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