American sportswear giant Nike has begun a collaboration with Kim Kardashian’s rising shapewear brand SKIMS in what experts are calling a ‘high-profile’ licensing agreement.
SKIMS, founded by Kim Kardashian and Jens Grede in 2018, sell shapewear that promotes body positivity and diversity through its various clothing ranges. Through this collaboration, SKIMS is utilising its cultural niche in combination with Nike’s vast reputation and global reach to create a new range of lounge and sportswear in a move that could generate substantial revenue for both brands.
While the particulars of the agreement are not public, experts speculate that the collaboration could come with “lucrative terms for SKIMS”. Not only would this propel the reach of SKIMS to a wider market, but the brand also benefits from Nike’s established manufacturing network and well-established intellectual property portfolio. In turn, Nike also reaps the rewards of SKIMS’ reputation as an inclusive and high-quality brand.
This complex agreement naturally also includes provisions surrounding the ownership and use of both brands’ respective intellectual property in relation to marketing materials and on the garments themselves. This deal could well see the value of both brands’ IP portfolios skyrocket in a short amount of time. This highlights the value of protecting your intellectual property rights in any collaboration and carefully considering the provisions of any agreement in relation to the same, since your intellectual property portfolio represents a highly valuable asset for your business.
If you have any questions on the above, please do not hesitate to contact the team at McDaniels Law on 0191 281 4000 or legal@mcdanielslaw.com.
