Date: 30th and 31st August 2019
Time: 9:30am -12:30 pm and 1:30pm – 4:30pm
Name of Speaker & Company: Mr. Bhavik Vora And Ms. Diksha Mehta
Black white Orange
Audience: Workshop Series for the Marketing department Students 2019-21
Contents of the workshop:
Student learning through practical exposure are an inherent part of ITM Business School’s culture. It was displayed in the workshop on ‘Licensing and Merchandising’ organized by the Marketing Dept. Workshop Basket Markedemics 2019. It was conducted by corporate executive-turned-entrepreneur Mr. Bhavik Vora and Ms. Diksha Mehta Co-Founder of Black White Orange. They began the session by introducing the Students to new era of opportunities in licensing and it’s different forms with help of most loved brands the company had worked- Game of thrones, Paramount Pictures, Baahubali to name a few.
There’s one factor that is most critical to build a brand – FANS
There’s one factor that pulls fans to the brand again and again
A well-balanced concoction of both, gives you the correct recipe to build, grow and sustain a brand. And how does one go about getting the concoction,
right? Well, entered Black White Orange.
A new-age start-up driven by experienced and passionate minds, Black White Orange was here to provide us students with merchandising solutions that helps brands, celebrities, media and retailers to strengthen their relationship with the most important stakeholder – the consumer. They offer services in retail, distribution, syndication, brand consulting & creative solutions.
The workshop kickstarted with Mr. Vora talking about the brands that they work with that are consumer favorites, integral part of the popular mainstream culture and ones that are inherently unique. They further explained that they take it upon themselves to explore and push the value of these brands and put them out there for fans and thus connecting them with their most loved brands.
Moving towards the central theme of the workshop Mr. Bhavik talked about different aspects related to licensing starting with what is licensing, what are the different forms of licensing i.e. sports, art, celebrity, character, entertainment, fashion and character and also shared some interesting facts and figures about each one of them respectively. Next, Mr. Bhavik communicated about the top global licensors of the world – The Walt Disney Company – $53B, Meredith Corporation – $23.2B, PVH Corp. – $18B, Universal Brand Development – $7.3B and Hasbro – $7.1B together with the top licensing agents.
Following it, there was a very fascinating topic where they discussed about how products come to life by giving exciting examples of Kolkata Knight Riders and minions. Subsequently Licensing industry in India was discussed in relation with the market size where the key categories were apparel and accessories, Back to school and toys and sporting goods. Astonishingly Licensing industry in India is largely driven by the kids’ and men’s segment respectively and brand/character visibility on the product is very important in kid’s categories. Also Licensed merchandise is competitively priced. However, it charges a premium in select categories as 70% of the licensing market is addressed through brand extension and modern trade is a key enabler for licensing business in India.
Next day, we started with a task given to create our own merchandise based on what we learnt over four topics (ITM, Tarak Mehta ka ooltah chashma, Priyanka chopra, Google). The teams enthusiastically gave presentations and skits were also performed by students. The valuable feedbacks by our speakers helped to learn better. Some case studies were also shown for clearing doubts and creating a connect for students interested in the field.
The session was concluded by discussing about the key challenges and the key career opportunities. The budding marketing management students learnt a lot about different key functions such as different types of licensing, design route, product proposition, Acquisition, Business Development Sales, Creative and brand Assurance, Finance and compliance, IP And Protection and Marketing and retail development.
The session ended with speakers also providing several merchandise goodies to each member of the team who did well in terms of presentation and innovative ideas and some clicks to capture the memories and learning. It was an enjoyable learning experience.