Pyramid International’s Mordy Benaiah highlights the positives and challenges that lie ahead.
2019 has already been an eventful year, but arguably there’s more drama to come.
Source catches up with a selection of licensees to ask what they feel are both the positives and the challenges that lie ahead for the remainder of the year.
Today: Mordy Benaiah, licensing director, Pyramid International
“The uncertainty surrounding Brexit has caused the UK market to be negative over the past couple of years and the weak Pound has proven challenging, but at the same time beneficial in terms of export and getting paid on volume sales out of Asia in US Dollars. So most businesses will take advantage where possible and exploit those areas to drive profit.
We have found the retail landscape in the UK changing rapidly. Traditional grocery retailers are not as active on licensing as in previous years and this has allowed the new players on the block to grow massively in this area. We are seeing tremendous growth in retailers like Aldi, Lidl, Poundland, B&M and The Range, all capitalising on licensed merchandise. Online sectors are also in growth so the swing of change where at the press of a button you can purchase instantly from the likes of Amazon, Wayfair and fast fashion from ASOS, Misguided among others.
Seasonality is still key and we are looking at a very busy Christmas trading period this year with the likes of Frozen II and Star Wars heading to the big screen.”