Universal Parks & Resorts Merges Two Businesses to Create New Global CP Division

Universal Brand Development and Universal Parks & Resorts Merchandise Group come together to form new Universal Products & Experiences division.

License Global

September 16, 2022

Universal Products & Experiences logo.Universal Products & Experiences

In a strategic expansion of its global consumer products and retail business,

Universal Parks & Resorts

has announced that it has merged two of its businesses to create a new division, Universal Products & Experiences (UP&E) division.

UP&E’s overall mission is to extend the company’s characters and stories by bringing them to life in immersive experiences, in product categories such as toys, collectables, books, apparel, lifestyle categories, video games and digital initiatives like NFTs and more. UP&E activates the business through licensee partnerships or through direct operations, and across its theme park locations, e-commerce platforms, live-entertainment venues and retailer relationships around the world. The division will be led by current Vince Klaseus, president, Universal Brand Development and report directly to Mark Woodbury, chairman and chief executive officer, Universal Parks & Resorts.

“Joining these two talented teams into one group creates a powerhouse division focused

on compelling consumer products and experiences both inside and outside our theme parks,” says Woodbury. “Our goal is to create products and experiences for fans that are as innovative and compelling as our lands and attractions. This team can now deliver and execute that on a much larger scale.”

“We’ve built a robust, successful, and expansive CP business over the last few years, and now by combining the creativity and innovation capabilities of the theme park’s direct consumer and retail skills, we’re going to take our collective business to new heights for consumers, our team and the company overall,” says Klaseus. “2022 has been a phenomenal year for our CP business with properties like ‘

Jurassic World

,’ ‘

Minions

’ and ‘Gabby’s Dollhouse’ taking off to new heights. That strength plus the phenomenal theme park performance and guest experiences makes this team coming together even more powerful. I can’t wait to see what we will accomplish together with the combined team focused on new areas of growth and collaboration across physical and digital product categories and retail.”