The FINANCIAL -- Carrollton, Texas | August 11, 2011 -- T.G.I. Friday's®, known for its
energetic bar and restaurant experience, announces plans to expand its
licensed retail business by targeting new licensees in the food,
beverage and home goods categories.
The decision to invest additional resources into its licensing program stems from the brand's recent growth in the market, which currently includes over 50 million product units with partners such as Heinz, Inventure and Diageo, resulting in more than $400 million in sales annually.
"Our approach to licensing is as important and strategic as any other aspect of our marketing efforts," said Trey Hall, senior vice president and chief marketing officer for T.G.I. Friday's. "The expanded licensing program aims to package the fun and excitement of a casual dining or a late-night bar experience into products consumers can enjoy at home to extend the Friday feeling beyond the restaurant and bar."
T.G.I. Friday's secured Brand2 Squared Licensing, a division of Peppercom, to aggressively seek new licensees and create food and beverage products that offer a consistent flavor profile with the Friday's menu, as well as home goods like bar equipment and glassware. The expanded licensing program aims to package the fun and excitement of a casual dining or a late-night bar experience into products consumers can enjoy at home.
"The T.G.I. Friday's brand offers significant value to manufacturers looking to grow their retail businesses," said Michael Dresner, CEO of Brand2 Squared Licensing. "The brand enjoys an established position in the bar/restaurant space, distinct visual iconography, broad digital and social media platforms, and a marketing program that new licensees can plug in to directly."
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