Pitching Strong On H​​​​​ome Turf

Often touted as ‘in its nascent stage,’ the brand licensing industry of India has come off age and is now witnessing a disruption fuelled by increasing influx of Indian IPs into licensing arena. An update…

- Gargi Bhardwaj

Pegged at USD 1476 mn in 2017, brand licensing is surely finding grounds in Indian markets, credits to the global ‘opti-mism’ for Indian market and soaring brand consciousness among gen Y. According to the recent survey by Licensing Industry Merchandiser’s Association (LIMA), Indian licensing and merchandising is at 20th position globally with royalties worth USD 74.4 mn generated over last one year. And hopping on this licensing bandwagon are the brands from home turf, the ones that have proved their mettle in core categories and are now eying diversification through brand extension.

CATCHING THE CHARACTER

Chhota Bheem from the house of Green Gold Animation is one such example of licensing for a homegrown IP. With TV series, movies, merchandise program and theme park ride under its name, the licensing program for Chhota Bheem contributes to a significant part of the revenue at Green Gold Animation. Commenting on the licensing of homegrown IPs, Samir Jain, CEO and Executive Director, Green Gold Animation, says, “Chhota Bheem is the first Indian character that has marked its presence on the global landscape. Such characters that are homegrown resonate more with the Indian consumers as compared to the globally acclaimed IPs.”