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Licensing Agreement with Mignon Faget
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DESCRIPTION: A request to negotiate and execute licensing or other legal agreements to facilitate retail revenue streams |
AGENDA NO: Click or tap here to enter text. |
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ACTION REQUEST: ☒ Approval ☐ Review Comment ☐ Information Only ☐ Other |
RECOMMENDATION:
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Authorize the Chief Executive Officer to negotiate and execute licensing or other legal agreements to facilitate retail revenue streams, including a licensing agreement with Mignon Faget.
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ISSUE/BACKGROUND:
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This agreement will position the RTA to generate additional revenue derived from an agreed percentage of RTA streetcar-branded Mignon Faget merchandise to include but not limited to glass drinkware and holiday ornaments for the 2023 holiday season.
In September 2023 after a competitive procurement process, the RTA entered a contract with Bayou Brands Merch LLC to facilitate the merchandise selection for the agency’s retail sales line of business which is intended to serve as an additional revenue stream. Retail revenue will be generated from a combination of licensing agreements and direct merchandise sales through the RTA website and limited in-person opportunities.
Bayou Brands Merch on behalf of the RTA coordinates product selection, product sourcing, design consultation, and vendor facilitation, including this licensing agreement with Mignon Faget.
The RTA Marketing Department is also seeking approval to enter any additional licensing or other agreements required to facilitate revenue from retail sales.
The items included in the licensing agreement will be available at Mignon Faget for the 2023 holiday season.
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DISCUSSION:
The RTA is committed to exploring innovative strategies to generate revenue for the agency, including this effort to leverage the iconic streetcar brand. As a result of our partnership with Bayou Brands, the agency is hoping to become the” go to” place to purchase RTA and streetcar-branded merchandise which benefits public transit. In addition to partnering with local iconic brands like Mignon Faget, the agency intends to include underrepresented “makers” and vendors in the merchandise selection process for the online store.
FINANCIAL IMPACT:
There is an opportunity for the agency to generate additional revenue from the gross sales.
NEXT STEPS:
The RTA CEO and Mignon Faget will negotiate and execute a licensing agreement.
ATTACHMENTS:
1. Resolution
2. Licensing Agreement
Prepared By: Angele Young
Title: Director of Marketing
Reviewed By: Sarah Porteous
Title: Chief of External Affairs
Reviewed By: Gizelle Banks
Title: Chief Financial Officer
11/3/2023
Lona Edwards Hankins Date
Chief Executive Officer