Procter & Gamble has retained The Beanstalk Group to help manage its growing global trademark licensing business. Beanstalk will initially focus on identifying and developing licensing programs that build upon the equity of three brands, including Max Factor in Europe.
According to P&G, the demand for trademark licensing has increased significantly with the success of its current programs.
"This arrangement will allow us to meet the needs of our expanding trademark licensing portfolio," said Gayle Jones, P&G's manager for trademark licensing. "It establishes an additional agency resource to complement our work in North America, and enables us to effectively play in other key markets."
According to a press release, trademark licensing is a vital component to P&G's Connect + Develop open innovation strategy as a way to expand brand adjacencies. P&G's ongoing partnership with Nancy Bailey & Associates—which has handled licensing for P&G brands for seven years—has been extremely successful in developing extensions for many brands in North America, including Cover Girl and Olay.