FAMU tops HBCU CLC sales

FAMU ranks first among Historically Black Colleges and Universities (HBCUs) in selling licensed merchandise, according to information recently released by the Collegiate Licensing Company (CLC).

The FAMU licensing program generated $79,007 in gross royalties during the 2008-2009 fiscal year. This represents the largest royalty collection in the history of the FAMU program.

“We are excited to know that FAMU is at the top of the list in selling apparel and other merchandise,” said Sabrina Thompson, coordinator of licensing at FAMU. “This is only an indicator of the success that we can have with this program. My goal is to increase sales by 25 percent in the upcoming year. We hope to continue to soar and bring revenue to the institution during these tough economic times.”

Royalties from the licensing program fund athletic scholarships at FAMU.

The primary factor for the increase is due to FAMU’s Victoria Secret PINK Collegiate Collection. This collection generated $7,764 in royalties for FAMU licensing program. The FAMU’s PINK collection had a significant impact on the women’s apparel category by growing it 187 percent.

Team Beans, a leading marketer and manufacturer of collectibles, novelty and promotional products for the sports industry, also contributed to FAMU’s record year. They reported $5,721 in royalties for the fiscal year.

FAMU currently has 120 licensees.

As part of the preparations for the 2008 Rattler Football season, officials at FAMU, CLC and local law enforcement made preparations to rid the marketplace of counterfeit and unlicensed merchandise. Since August 2008, CLC, the university and local law enforcement officials, have patrolled the Tallahassee marketplace in search of counterfeiters selling “knock-off” merchandise. All counterfeit merchandise is subject to seizure. FAMU benefits monetarily from the sale of licensed merchandise, receiving 7.5 percent of the purchase price.

“Florida A&M University has been extremely proactive in growing its licensing program, and their hard work as paid off,” said Brian White, CLC’s vice president of University Services. “FAMU’s rich tradition, combined with the innovative licensing programs the University has developed over the last couple of years have helped grow its retail product sales among its loyal constituents across a variety of product categories.”