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DOWNES & OUT Inset: John Lewis & Partners is dropping its ‘Never knowingly undersold’ tagline.
Tearing up Right: Start Licensing’s Ian Downes. Below: Primus is one of the licensees which has adapted well to the current trading conditions.
the playbook
We are entering a new phase in the business of licensing and we have to adjust our thinking, believes Start Licensing’s Ian Downes. The pace, rhythm and calendar of licensing has changed, but let’s embrace new ways of working.
R
eading the Sunday Times recently I was surprised to read that it was reporting that John Lewis was planning to ditch the 'Never knowingly undersold' price promise. This promise has been running for 95 years and the policy sees the retailer match prices with other bricks and mortar retailers. It has become part of the fabric of John Lewis and its offer. The fact that the retailer is moving away from the promise is explained by the growth in online sales and shopping during lockdown. The promise has become outmoded. In changing times things have to change. Even things that you have taken for granted and have become second nature in business. John Lewis' chairman Dame Sharon White has had to tear up the John Lewis playbook and start again. This thought process ties in with my own thinking and reflections on the licensing business. I
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LICENSING SOURCE BOOK EUROPE 2020
think we are entering a new phase in the business of licensing and as such we have to adjust our thinking. The pace, rhythm and calendar of business has changed - one clear example of this is the fact that Brand Licensing Europe has morphed into a virtual event, Festival of Licensing. Start Licensing is participating in the Festival. We may face a steep learning curve about how to exhibit virtually, but we need to be open-minded and to embrace new ways of working. Some adjustments made during lockdown, many of which were forced on us, have cast a light on new opportunities for licensing. The first of these is the recognition of the value of building and nurturing your own consumer audience and following. Broadly speaking licensing has tended to rely on others, notably broadcasters, to bring an audience and in some respects manage those relationships. The advent of social media and growth in platforms like YouTube has created new opportunities for rights owners to build relationships and to communicate with consumers. My client Aardman has long focused on community management. It has in-house teams that manage its social media platforms, create bespoke content and develop marketing campaigns. We have worked with a range of licensees to create campaigns that have either been focused on direct