NEW YORK–HoMedics and The Sharper Image have signed a five-year, $540 million license agreement for a line of Sharper Image-branded products in the home-environment, electronics, men’s-personal-care, men’s-gifts, health-and-wellness, weather and concierge categories.
According to a joint statement from the two companies, the agreement positions HoMedics as Sharper Image’s primary strategic licensee, as part of the process of transforming the latter’s business model from that of a retailer to that of a global brand licensor.
Speaking late last week to HFN, Federico de Bellegarde, Sharper Image’s vice president of licensing, said the products include MP3 docking stations, stereo radios and indoor-outdoor wireless speakers; weather stations; men’s shavers, trimmers and nose-hair trimmers; gift items in the wine, barbecue, automotive and golf categories; blood-pressure monitors and scales; air cleaners, humidifiers and air-purification products; and pants presses, clothing steamers, jewelry and eyeglass cleaners, shoe buffers and motorized tie racks..
Also speaking to HFN, Ron Ferber, president of HoMedics, said this is the company’s largest licensing program to date. “The DNA of both companies is pretty much the same,” Ferber said. “We used to supply products to Sharper Image, and both companies are based on technology and innovation.”
Ferber also said the price points have yet to be determined specifically, but that they will cover a wide range. The line will be targeted at retail channels in the midprice tiers and above.
In addition, Ferber said HoMedics is setting up a separate business unit for its Sharper Image brand, and that the company is in the process of hiring the staff for this unit.