THE BEANSTALK GROUP EXTENDS REACH TO ASIA, OPENS OFFICE IN HONG KONG
World’s Leading Brand Licensing Agency to Leverage Unparalleled Experience, Resources to Grow Notable Client Roster in Asia
February 17, 2009, New York, NY., and Hong Kong., — The Beanstalk Group, the world’s leading brand licensing agency and consultancy, today announced the opening of an office in Hong Kong to extend its impressive client roster of corporate brands into the Asian marketplace, beginning with clients such as Ford, Jaguar, Land Rover, Samsonite and Vespa, among others. Beanstalk Hong Kong will be under the direction of Josephine Law, an expert in licensing throughout Asia.
Beanstalk is a part of Omnicom Group Inc.’s Diversified Agency Services (NYSE: OMC).
“Since its inception, Beanstalk has organically grown at pace with our clients’ needs, continually providing them with the necessary resources, expertise, innovation and global reach required to execute groundbreaking licensing programs. Today, with nearly three decades of experience in licensing and brand development throughout the world, we are uniquely prepared to enter the Asian marketplace on behalf of some of our most successful client brands,” said Michael Stone, President and CEO of The Beanstalk Group. “We look forward to servicing our clients in this emerging and exciting retail landscape and assisting them in growing their brand reach and appeal with entirely new audiences.”
During the last 15 years, licensing has emerged in Asia, starting with entertainment properties and now growing to include corporate brands. China’s retail environment in particular is growing at an extraordinary rate, with U.S. and European luxury flagship stores being introduced to the market and large U.S. retailers recognizing the country as its next great growth opportunity. Established markets like Japan and Korea continue to attract international brands for expansion, while smaller countries like Vietnam, Malaysia and Thailand have recently opened themselves to new opportunities in meaningful ways. Many global brands have experienced their most recent growth in the Asian marketplace, indicating the time is right to respond to consumers’ demand for Western brands and products.
Ms. Law joins The Beanstalk Group as Director, Brand Development, Asia. She has two decades of licensing, manufacturing, product development and marketing experience and extensive knowledge of the Asian market. Most recently, she was Global Licensing Director for Byford International Ltd., a British men’s underwear and hosiery brand. Prior to that, Ms. Law was the Licensing Area Manager for the Asia Pacific ELLE magazine licensing program and established its Shanghai office, overseeing its daily operation and management. Josephine also spent five years in sales and marketing roles in the footwear industry. She is fluent in both Mandarin and Cantonese.
“There’s no doubt that licensing and brand extensions in Asia are distinctly different from other regions of the world, from the audience and culture to the retailers and intellectual property rules and regulations,” said Law. “However, The Beanstalk Group’s expertise in expanding global brands into diverse markets and cultures is entirely unmatched in the industry. I am thrilled to be working with such a talented and well-respected agency and afforded the opportunity to grow some of the most prestigious and well-recognized brands in the world.”
Ms. Law will report directly to Ciarán Coyle, Senior Vice President, International, based in Beanstalk’s London office. She will be responsible for developing and growing the licensing programs of current Beanstalk clients throughout Asia, as well as prospecting for new clients and business opportunities in the region.
“Our investment in this growing market during these challenging times underscores Beanstalk’s continuing commitment to support initiatives that will position us for future growth,” said Ciarán Coyle. “The Hong Kong office initiative has been made possible through the full support and assistance of Omnicom Group, our parent company.”
Beanstalk’s Hong Kong office will be located in Omnicom Asia Pacific’s offices in Taikoo Shing.