Tallahassee, FL - For the third consecutive year, Florida A&M University (FAMU) is ranked No. 1 among historically black colleges and universities (HBCUs) in selling licensed merchandise. According to the Collegiate Licensing Company (CLC), sales increased by 25 percent from the 2008-2009 fiscal year gross royalties of $79,007 to $98,863.82 in 2009-2010. The FAMU licensing program has generated approximately $2.6 million in retail sells for this fiscal year.
“We are ecstatic to know that FAMU remains at the top of the list in selling licensed merchandise,” said Sabrina Thompson, coordinator of licensing at FAMU. “Our goal is to continue to increase sales in the upcoming years.”
Currently, FAMU has 127 licensees. Royalties from the licensing program funds FAMU athletic scholarships. Previously, FAMU received 7.5 percent of the purchase price. As of July 1, FAMU now receives 10 percent of all sales.
“This increase will assist the University in continuing to provide excellence with caring,” said Thompson.
Since August 2008, FAMU, CLC and local law enforcement officials have patrolled the Tallahassee marketplace in search of counterfeiters selling “knock-off” merchandise. All counterfeit merchandise is subject to seizure.
“The FAMU licensing program has been a great story in our industry for the last few years,” said Brian White, CLC’s vice president of University Services. “This year, however, the University and its supporters set the bar even higher. It is not uncommon to see large year-over-year sales increases among the country's licensing programs, but this kind of record growth over three consecutive years is very impressive and comes as a result of the University’s strong commitment to protecting and marketing its brand.”
The CLC is the oldest and largest collegiate licensing agency in the U.S. and represents nearly 200 colleges, universities, bowl games, athletic conferences, the Heisman Trophy and the NCAA.
Photo caption: FAMU student Erica Lewis purchases FAMU paraphernalia at a local Walmart.