ThreeSixtyGroup, parent company of FAO Schwarz, has acquired The Sharper Image brand and intellectual property assets from Iconix Brand Group.
Through MerchSource, its U.S. retail-facing division, ThreeSixty has licensed the Sharper Image brand from Iconix since 2008 across a variety of product categories, including radio controlled drones, men’s gifts and gadgets, electronics, slippers and home décor, and is currently the largest licensee of the brand.
“Sharper Image is synonymous with innovation and unique, ’giftable’ product designs offered across a wide variety of consumer product categories,” said Kirk McLean, co-founder of ThreeSixty Group. “As a licensee of the brand for almost 10 years, we understand the power of the Sharper Image name and see tremendous opportunity to leverage our platform to continue this tradition of innovation.”
As the new brand owner, McLean said ThreeSixtyGroup is planning to increase its strategic investments in product development, design and marketing while exploring expanding into new categories and geographies to realize the full potential of this iconic brand.
In connection with the acquisition, ThreeSixty also announced the establishment of a brands division to support the development and expansion of the Sharper Image and recently acquired FAO Schwarz brands. The brands division will manage the overall brand marketing and business development strategies for Sharper Image, FAO Schwarz and future acquired brands— including marketing, new product development, and licensee support.
“The goal behind the division is to enhance these brands, to support third-party licensees, and to attract additional consumers and sales opportunities through investments in marketing, advertising, and product development,” said Mike Roberts, co-founder of ThreeSixty. “By leveraging ThreeSixty’s internal product development capabilities and existing retail relationships, the new brands team will coordinate growth initiatives among ThreeSixty and third-party licensees to maximize the potential of each brand in the market.”
ThreeSixty Group bills itself as a cross-category designer, manufacturer and distributor of consumer products to major retailers in the U.S. representing more than 70,000 retail stores. The company designs and develops products in a host of categories including toys and other children’s products, holiday gifts, home décor, games, radio controlled vehicles and drones, and athletic accessories. Items are marketed under a portfolio of owned and licensed brands including FAO Schwarz, Blue Hat Toy Company, Sharper Image, Black Series, Discovery Kids, Smithsonian and Animal Planet.
