New York and COMMERCE TOWNSHIP, Mich., Oct. 13 /PRNewswire/ -- The Sharper Image today announced the signing of a $540 million, five-year licensing agreement with HoMedics, the world's leading manufacturer of personal health, wellness and relaxation products. The comprehensive agreement covers the use of The Sharper Image brand and intellectual property across a broad range of product categories.
HoMedics has been selected as a primary strategic licensee for The Sharper Image brand as it transforms its business model from a retailer to a global lifestyle brand licensor. Under this agreement, HoMedics will offer uniquely featured products in categories including: Home Environment, Electronics, Men's Personal Care, Men's Gifts, Health & Wellness, Weather and Concierge. The objective is to expand upon The Sharper Image's rich brand history which represents the values of quality, excitement and innovation.
"The Sharper Image is an iconic brand with tremendous positive consumer awareness, and we're extremely excited about how HoMedics can further boost our leadership in personal health, wellness and relaxation products while remaining true to The Sharper Image brand legacy," said Ron Ferber, president of HoMedics. "The agreement will allow us to enter into new categories that will complement our core business and will allow HoMedics to introduce new product innovations with a wider range of price points."
In May of this year, a group of private investors purchased The Sharper Image brand and intellectual property and have developed a global licensing strategy for wholesale, e-commerce, catalog and direct-to-retail (DTR) businesses. This approach will allow The Sharper Image brand to exist outside the confines of its historic core channels and on the shelves of leading retailers throughout the world.
"We are pleased that the strength of The Sharper Image brand has attracted a licensee of HoMedics' caliber," said Federico de Bellegarde, vice president of Licensing at The Sharper Image. "HoMedics is a terrific fit for The Sharper Image brand due to their extensive product development capabilities coupled with their significant relationships in the retail community. HoMedics understands The Sharper Image brand DNA and, with their newly developed products, shall set the standard for our brand objectives."
HoMedics will introduce their first collection of Sharper Image licensed products at both the Consumer Electronics Show in Las Vegas in January 2009 and the International Housewares Show in Chicago in March 2009. Products will be distributed through the Retail, Catalog, E-commerce and Hospitality industries across the U.S., Canada, Mexico, UK, Australia and New Zealand.
About The SHARPER IMAGE
The Sharper Image is a licensing company based in New York and owned by a joint venture between Hilco Consumer Capital - Toronto, Gordon Brothers - Boston, and Bluestar Alliance - New York. The company was acquired in May 2008 after a long legacy of developing innovative products through entertaining stores, e-commerce and award-winning catalogs.The Sharper Image currently has active licenses in RTA furniture, Luggage, Electronic Gifts, Replacement Ink Cartridges and is pursuing licenses in other product categories including: selective Consumer Electronics, Bath & Bedding, Cookware, Pet, Eyewear and Lawn & Garden.
ABOUT HOMEDICS
Founded in 1987 by Ron Ferber and Alon Kaufman, HoMedics (www.homedics.com) began as a manufacturer of at-home massagers. Today, the family-owned business manufacturers and markets more than 250 personal healthcare and wellness products, which are available to consumers at 50,000 retail outlets in over 60 countries.
Based in Commerce Township, Michigan, HoMedics is an industry leader across all divisional categories, including massage, diagnostic healthcare, weight management, sensory and relaxation, domestics, and home environment.
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