With its purchase of the historic FAO Schwarz brand from Toys “R” Us in 2016, ThreeSixty Group has set its sights on other iconic brands. Now it’s establishing a brands division to manage overall branding and business development strategies for both the FAO Schwarz and Sharper Image brands, as well as “future acquired brands.”
The division will focus on the design, innovation, production, and marketing of products that fit the ThreeSixty Group’s brand ethos. This includes everyday play, technology and premium home comfort, as well as other product categories. The goal is to provide high-quality, consumer-friendly products that make a difference in people’s lives.
The company is focusing on developing a variety of licensed products under the Sharper Image brand. These include apparel, electronics, kitchen appliances, and outdoor living. The company has also signed a series of licensing agreements with manufacturers such as Conair (curling irons, hairdryers and razors), Allstar Products Group (electronics, clothing, toys) and Vornado (fans, air purifiers).
Three6ixty Branding has made it clear that it intends to return the Sharper Image brand to retail, with a plan that could involve franchised stores in malls or other locations. This move would be in addition to the 12,000-square-foot pop-up store that opened in New York City last year. The goal is to bring back “the magic of the stores,” says co-founder David Conn.
In the lawsuit filed against ThreeSixty, STI alleges that the company has violated its contract by refusing to allow it to continue selling branded products after the expiration of the license. STI also claims that ThreeSixty has refused to honor its obligation to approve any retailer that wants to sell products bearing the mark, citing an arbitration clause in the agreement.
According to the complaint, STI is seeking damages for breach of contract and fraud. It also seeks an injunction to prevent ThreeSixty from using the trademarks without permission and to require it to notify it of any use. The company is also requesting that the court award attorney fees and costs to it.
The judge has yet to rule on the matter. However, based on the allegations in the complaint, he is likely to deny the motion to dismiss and order STI to pay the company’s legal fees.
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