Enesco to Manufacture Boyds Products
By Staff -- Gifts and Dec, 5/6/2008 9:19:00 AM
Itasca, IL — Gift vendor Enesco LLC inked a deal to design, manufacture, and distribute all The Boyds Collection Ltd. products. The contract is structured as an exclusive, long-term, worldwide licensing agreement rather than an outright sale — “There were some business reasons for both sides that it makes sense to do it that way,” Enesco executive chairman Matt Bousquette told Gifts & Decorative Accessories — but it is more sweeping than the usual licensing agreement. “Based upon performance it is open-ended,” said Bousquette. Terms of the transaction were not disclosed.
Boyds will close its existing offices, and Enesco will hire what Bousquette characterized as “the bulk” of Boyds’ design, development, marketing, and sales employees, who will remain in Pennsylvania, as well as acquire some of the company’s assets. Boyds will, however, continue to run the Gettysburg, PA, retail store, where Enesco-made Boyds brand goods will continue to have a significant presence.
The agreement covers a wide range of formats and categories including plush, resin, ceramic and other materials. “Obviously the plush business is an expansion into a new category where we haven’t been before,” said Bousquette. Enesco does plan to tweak the product offerings. “There have been a number of things that resonated with the Boyds brand when it was first invented, and we believe there’s an opportunity to go back and reexamine that and build on that.” The company hasn’t yet decided whether to keep, close, or combine Boyds showrooms with Enesco’s existing spaces; Enesco plans to discuss the issue with individual tradeshow managements.
The addition of the Boyds brand is part of Enesco’s ongoing strategy of diversification. Says Bousquette, “We’re in a growth mode. If you look at the portfolio of Enesco brands versus a year ago, it is a substantial expansion in terms of styles and formatting.” Brands recently added to the Enesco stable include Our Name is Mud, Country Artists, Bob Olszewski’s Gallery of Light, philoSophie’s and Jubilee Art.
There is a lot of negative talk about Enesco's take over of Boyds. Boyd collectors, and retailers, are thinking negative about the new products --- if there are any. Retailers haven't gotten the fall catalogs and everyone wonders what's going on. Too many things NOT said.
Sherry Burroughs - 2008-06-04 22:09:00 EDT
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