ThreeSixty Group will extend the consumer electronics brand through marketing, product development and licensee support.
Iconix Brand Group has sold The Sharper Image brand to the ThreeSixty Group.
The terms of the transaction were not disclosed.
“Sharper Image is synonymous with innovation and unique, ‘giftable’ product designs offered across a wide variety of consumer product categories,” says Kirk McLean, co-founder, 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, we are planning to increase our 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. We believe strongly that these investments will unlock attractive new growth opportunities for both ThreeSixty and the brand’s impressive array of licensees.”
Additionally, ThreeSixty has also established a new brands division to support the development and expansion of the Sharper Image and recently acquired FAO Schwarz brands. The new group will manage the overall brand marketing and business development strategies–including marketing, new product development and licensee support–for its newly and 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,” says Mike Roberts, co-founder, 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.”