To fuel growth beyond initial product offerings, consider strategies like line extension and licensing as discussed with Chris Lynch of Everyday Cali. This episode provides valuable insights for ecommerce operators looking to diversify their brand and reach new markets without solely relying on direct product development and sales.
Key takeaways
Explore line extension to expand your product catalog within existing brand categories, catering to diverse customer needs and preferences.
Investigate licensing opportunities to leverage your brand equity in new product categories or distribution channels with minimal direct investment.
Assess your brand’s strength and market recognition before pursuing line extensions or licensing to ensure successful adoption.
Develop clear legal and financial frameworks for licensing agreements to protect your brand and ensure profitable partnerships.
Identify potential partners for licensing that align with your brand values and have established expertise in their respective product categories or markets.
In a word, Chris Lynch is cool. So is his brand Everyday California. It’s not a surprise then, that what started as an adventure tour company also became a super popular apparel line. But Chris and the Everyday Cali team didn’t stop there… The brand has now grown to include flip flops, beer, CBD and even a line of sunscreen. So what separates a solid business move into new products vs. an unhealthy distraction? When should you partner, license, go on your own, or scrap an idea? Here’s what we dive into on this episode: When to lawyer up and why it’s sooo worth it Be patient - speed in some instances almost guarantees that you land on your face. One of the best questions to ask about adding a new product is “does it feel right?” How Chris and team partnered with a brewery on a California IPA and a CBD company to make a CBD product all while strengthening their core brand offering. Lessons learned from a few license deals How and why Everyday Cali is launching a brand new sunscreen - if you’re considering a line extension, you’ll love Chris’ advice.
Explore line extension to expand your product catalog within existing brand categories, catering to diverse customer needs and preferences.
What does this episode say about product & merchandising?
Investigate licensing opportunities to leverage your brand equity in new product categories or distribution channels with minimal direct investment.
What does this episode say about brand & content?
Assess your brand’s strength and market recognition before pursuing line extensions or licensing to ensure successful adoption.
What does this episode say about brand & content?
Develop clear legal and financial frameworks for licensing agreements to protect your brand and ensure profitable partnerships.
What does this episode say about brand & content?
Identify potential partners for licensing that align with your brand values and have established expertise in their respective product categories or markets.
