The family of iconic reggae singer Bob Marley and Hilco Consumer Capital, a private equity firm that invests in retail brands, have established a joint venture to license Marley’s liken
The family of iconic reggae singer Bob Marley and Hilco Consumer Capital, a private equity firm that invests in retail brands, have established a joint venture to license Marley’s likeness, trademarks and themes.
Hilco Consumer Capital, which owns a stable of retail brands including Halston and Ellen Tracy, has invested some USD20m in House of Marley, a joint venture with the Jamaican musician’s family.
Hilco Consumer Capital is jointly owned by Hilco Organisation, a US retail liquidation firm, chief executive James Salter and other executives, Goldman Sachs Group, and Cerberus Capital Management.
The House of Marley will sell the rights to produce products under the brands Bob Marley, Tuff Gong, Catch A Fire and One Love, inspired by the work of Bob Marley & the Wailers.
Salter told the Wall Street Journal that by cracking down on unauthorised Marley products with estimated annual sales of USD600m, the brand could become a USD1bn business within a few years.
The newspaper says House of Marley could earn a royalty of between five and ten per cent on sales of licensed products.
