10 Minutes With … Stor on the Challenges and Opportunities of Consumables Manufacturing10 Minutes With … Stor on the Challenges and Opportunities of Consumables Manufacturing
License Global speaks to Valentin Ortiz, chief executive officer, Stor, to delve into the modern manufacturing landscape, its challenges and opportunities and the key strategies licensees must adopt to adapt.
January 6, 2023
Working across significant licenses such as “CoComelon,” “Spider-Man,” “Minecraft,” “PAW Patrol” and, well, the list goes on, Spain’s Stor is a European licensee focusing on tableware, drinkware and kitchen accessories.
How would you describe today’s modern manufacturing and licensing process in the European consumer product space?
Valentin Ortiz: Investing in our factory in Spain is the strongest move for 2023 and 2024, particularly investment in new tooling and production facilities.
Many retailers and customers have asked us to increase our European production. So, we have made additional efforts to produce some of our top-selling items in Spain and increase our assortment, avoiding the latest situations in Asia.
What are the main challenges you face today?
Business wise, to manage the growth achieved in 2022. Not only due to the increase in listings but also to work on the introduction of new ranges for kids’ tableware and the release of 15 products.
Regarding sourcing, we need to find the most accurate transit dates from freighters; however, this is not entirely in our hands. We have, however, improved the production capacities of certain key items at maximum production rates. Sustainability-wise, we have achieved FSC, Good Grace and VC Green certificates and are also a Products of Change member. All polybags have been removed in place of paper ones, and we are implementing the change on blistering from PVC to PET.
What are the main opportunities within home and accessory manufacturing?
Finding and working on gifting with specialist home retailers is an exciting opportunity. We have
worked hard to develop special gift, seasonal and home lines, and the next step is to train buyers to
buy these products.
How do you approach the licensing process, and what elements make a marketable licensed product?
It’s a balance between price and quality. We have realized in the last year that the market is demanding what we call silver products. Bronze is a promotional product and gold is high-end. Across licensing, there has been a step up from promo items to higher-quality products with a higher price. The important part is to work on silver options.
What do you see for the future of manufacturing – concerning both challenge and opportunity – over the next few years?
Stability. We foresee a time in which the licensing industry is going to keep stable despite the current difficulties in the economy.
Stor has been named in License Global’s 2022 Leading Licensees Report. The report recognizes more than 200 manufacturers worldwide across all categories that have made significant developments in the licensing business and will continue to push the industry forward in 2023.
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