FAMU’s Licensing Program Has Record Year
Florida A&M University (FAMU) had a banner year for revenue generated from licensing, the school announced Friday. The Tallahassee-based university had $79,007 in gross royalties during the 2008-2009 fiscal year — the largest amount since the licensing program began in 2000. But, even with the gains made, the historically black institution still has a long way to go to compete against majority-white schools that generate millions of dollars.
Of the seven HBCUs that partner with the Collegiate Licensing Co. (CLC), a licensing agency for colleges, universities, and athletic conferences, FAMU ranked No. 1 in selling licensed merchandise, followed by Southern University, and North Carolina A&T State University, according to a CLC spokesperson.
“This is only an indicator of the success that we can have with this program,” said Sabrina Thompson, coordinator of licensing at FAMU, in a news release. “My goal is to increase sales by 25% in the upcoming year. We hope to continue to soar and bring revenue to the institution during these tough economic times.”
Licensing revenue for FAMU increased by $5,864, and the school placed 111th among all 156 schools ranked by the CLC for revenue generated. In comparison, The University of Texas at Austin ranked No. 1, for the fourth consecutive year, with gross royalties totaling a little over $8.8 million.
A licensing agreement with Victoria’s Secret Pink, which generated $7,764 in royalties for FAMU during the 2008-2009 school year, is the primary contributor for the royalty increase from last year. The Pink collection, which features casual and athletic women’s clothing with adorned with the school’s logo expanded FAMU’s women’s apparel category by 187%. All royalties from the school’s licensing program fund athletic scholarships at FAMU.
– Marcia Wade Talbert