Sharper Image signs with HoMedics to build product portfolio
NEW YORK One-time specialty retailer The Sharper Image on Monday announced the signing of a $540 million, five-year licensing agreement with HoMedics, a manufacturer of personal health, wellness and relaxation products that will place the Sharper Image brand across a broad range of product categories.
“The Sharper Image is an iconic brand with tremendous positive consumer awareness, and we’re extremely excited about how HoMedics can further boost our leadership in personal health, wellness and relaxation products while remaining true to The Sharper Image brand legacy,” stated Ron Ferber, president of HoMedics. “The agreement will allow us to enter into new categories that will complement our core business and will allow HoMedics to introduce new product innovations with a wider range of price points.”
“We are pleased that the strength of The Sharper Image brand has attracted a licensee of HoMedics’ caliber,” stated Federico de Bellegarde, vice president of licensing at The Sharper Image. “HoMedics is a terrific fit for The Sharper Image brand due to their extensive product development capabilities coupled with their significant relationships in the retail community. HoMedics understands The Sharper Image brand DNA and, with their newly developed products, shall set the standard for our brand objectives.”
HoMedics has been selected as a primary strategic licensee for The Sharper Image brand as it transforms its business model from a retailer to a global lifestyle brand licensor, Shaper Image stated. Under this agreement, HoMedics will offer uniquely featured products in categories including home environment, electronics, men's personal care, men's gifts and health and wellness.
In May of this year, a group of private investors purchased The Sharper Image brand and intellectual property and have developed a global licensing strategy for wholesale, e-commerce, catalog and direct-to-retail businesses. This approach will allow The Sharper Image brand to exist outside the confines of its historic core channels and on the shelves of retailers.
HoMedics will introduce their first collection of Sharper Image licensed products at both the Consumer Electronics Show in Las Vegas in January 2009 and the International Housewares Show in Chicago in March 2009.