CIT Expands Relationship with Li & Fung through Kids Headquarters
CIT Group, Inc., a leading provider of financing to small businesses and middle market companies, announced that it has expanded its factoring relationship with LF USA, Inc., a subsidiary of Li & Fung, the world’s leading consumer goods supply chain management company.
The expanded relationship now includes LF USA’s Wear Me Apparel LLC, which conducts business as Kids Headquarters, a leading designer, marketer, and seller of young men’s and
children’s apparel in the U.S. It is expected that the new relationship will provide an estimated $700 million in additional annual factored volume for CIT Trade Finance.
Kids Headquarters manages a portfolio of licensed national brands, proprietary brands, private labels, and character licenses. These include Calvin Klein, Ecko, Timberland, Hurley,
Rocawear, U.S. Polo Association, Disney, Marvel, Nickelodeon, Warner Bros., and Hasbro.
A2 Entertainment and GetFugu Partner for Apps
GetFugu, Inc., the next generation mobile search tool, announced that it is partnering with A Squared (A2) Entertainment to develop mobile applications, which will be centered around the GetFugu technology. This new partnership will extend the content currently being created by A2 Entertainment and one of its main distribution channels, AOL.
As part of the agreement, GetFugu will develop an interface laced with video, educational and game content currently being produced by A2 Entertainment. GetFugu will provide applications designed for multiple mobile platforms, submit the application to the various platform
app stores and manage the backend for the project.
The first project to be developed will be based on Secret Millionaire’s Club, a new animated
series created by A2 Entertainment in partnership with businessman Warren Buffett to teach kids about business and how the world around them works.
With GetFugu’s ARL and VRL technology, customers can find a business location simply by taking a picture of a logo or speaking its name into their phone. Using their mobile phone’s GPS capabilities, GetFugu can then provide detailed contact information and points the way on either a map or reality view. The application also points out other GetFugu-enabled businesses in the immediate area, providing for a more dynamic experience for every cell phone user. Visit www.getfugu.com.
Cartoon Network Renews Deal with Bell Sports
Cartoon Network Enterprises (CNE) announced that it has renewed its licensing deal with Bell Sports, designer, developer, and marketer of sports equipment and protective products, for the Ben 10 franchise. Building on an existing relationship, this two-year deal includes a full line of safety helmets and knee/elbow pads from Bell Sports that features characters and designs from the Cartoon Network original series.
LIMA Sponsors Mt. Everest Climb to Support Brain Tumor Foundation
The Licensing Industry Merchandisers’ Association (LIMA) announced that it is sponsoring a fundraising climb to the base camp of Mt. Everest in October to support the
Children’s Brain Tumor Foundation (CBTF) and is calling on the licensing industry to take part. As part of the LIMA Cares campaign, the association has a three-year commitment to raise $3 million to fund the CBTF Tissue Consortium.
CBTF, the licensing association’s charity of choice, calls brain tumors the toughest children’s cancer: one-third of those diagnosed die within five years and most of those who survive
suffer profound effects from the tumor and treatment.
“The Mt. Everest climb provides LIMA members with an opportunity to get actively involved in supporting the tissue consortium, which will enable researchers around the world to collaborate to speed a cure for brain cancer,” says Charles Riotto, president of LIMA. “We are looking for four to six adventurous LIMA members from around the world who will join the group to help us raise money to help find a cure.”
The climb will take place October 13-31, 2010, and cost per climber is $6,600 plus airfare to Nepal. The Everest Base camp, located 18,000 feet up the face of Mt. Everest, is the last stop for expeditions on the way to the summit. Abercrombie and Kent, a leading adventure tour company, is operating the climb and will handle all the arrangements other than air travel. Each
climber will be asked to raise $25,000 toward LIMA’s fundraising goal.
This climb is being spearheaded by LIMA member Jennifer Zivic, who climbed Mt. Kilimanjaro in 2008 raising more than $32,000 for CBTF in memory of her father who died from brain cancer.
LIMA will conduct a webinar on Thursday, April 15 from 12:30-1:30 p.m. EDT during which Zivic will outline details of the climb for members who are interested in learning more. To sign up for the free webinar, go to www.licensing.org and click on “Events.”
MODA International Marketing Becomes MODA Licensing
MODA just announced that the company has a new name, brand identity, and a website. Now known as MODA Licensing with the tagline: Building Businesses from Brands. The company, which was founded in 1988, made the change to better convey MODA’s dynamic, innovative, and results-driven approach
to business. The new website: www.modalicensing.com is expected to launch shortly.