Wed, 2 October 2019
If you’ve ever bought a bottle of Jack Daniels BBQ sauce or Febreze kitty litter, you’ve seen Michael Stone’s powerful approach to brand licensing in action. This attorney-turned-entrepreneur pioneered the form of corporate licensing that makes such products possible and wildly successful.
Stone made his first foray into the world of licensing with the launch of his company, Beanstalk, in the mid-1990s. The firm quickly became the go-to resource for prominent brands like Procter & Gamble, Coca-Cola, and AT&T—all corporations that were eager to expand their reach into different product categories and strengthen their relationships with consumers.
In 2018, Stone and his company were responsible for generating over $7 billion in retail sales of licensed product. While he stepped down as the CEO a few years ago, Stone still serves as the chairman of Beanstalk and is committed to innovation in this industry.
Check out this interview to learn more about the ins and outs of licensing and to hear about Stone’s experience writing his book The Power of Licensing: Harnessing Brand Equity.