Following its purchase of the FAO Schwarz brand from Toys “R” Us in October 2016, ThreeSixty Group has snapped up another historic brand, The Sharper Image, for $100 million. ThreeSixty Group has been licensing Sharper Image products from owner Iconix Brand Group since 2008, the year the retailer declared bankruptcy and began closing stores.
In connection with the acquisition, ThreeSixty will establish a brands division to support the development and expansion of both the Sharper Image and FAO Schwarz brands. The division will manage overall brand marketing and business development strategies for these iconic names as well as future acquired brands.
“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 in a statement.
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“Sharper Image is synonymous with innovation and unique, ‘giftable’ product designs offered across a wide variety of consumer product categories,” said ThreeSixty Group Co-Founder Kirk McLean. “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.”
ThreeSixty Group is a cross-category designer, manufacturer and distributor of consumer products to major U.S. retailers representing more than 70,000 retail stores. Categories include toys, holiday gifts, home décor, games, radio controlled vehicles and drones and athletic accessories, marketed under a portfolio of owned and licensed brands including Blue Hat Toy Company, Black Series, Discovery Kids, Smithsonian and Animal Planet.
