Licensing Increasingly Married to Weddings
After two years of postponements, weddings are expected to return in record numbers this year. And as so many couples tie the knot, the industry is saying “I do” to licensing.
As micro-weddings and “minimony” ceremonies became part of the industry lexicon, many licensing deals idled during the pandemic as contracts were extended. Yet as wedding plans for this year and 2023 were finalized in the past six months, so too were licensing agreements. For example, fashion designer Pnina Tornai—whose bridal dresses are priced at $3,400 and up at New York retailer Kleinfeld’s—earlier this month launched a lower-priced bridesmaid collection (gowns, dresses, and jumpsuits retailing for $159-$249) in a DTR with e-commerce retailer Azazie.
Wedding planner and fashion designer David Tutera, meanwhile, has licensing agreements with, among others, LA Rocks (“Everyday Celebrations” jewelry sold exclusively at Macy’s), United Paper & Craft (party goods, stationery, cards, bags) and Ivan & Co. (fine jewelry). Additionally, designer Vera Wang launched a 60-piece licensed wedding dress collection with Barcelona-based Pronovias that’s priced about 60% less ($1,600-$4,000) than Wang’s couture line.
These licensed lines come as 2.47 million weddings are planned for 2022 (the most since 1984) and another 2.24 million are set for next year, according to The Wedding Report. That’s up from 1.9 million in 2021 and 1.3 million in 2020. The sharp increases aren’t as much about growth as they are about pent-up demand, wedding industry executives said. Indeed, Brandgenuity’s licensing agreement with Tornai began just prior to the pandemic in 2020 and returned in earnest last year. About 20% of weddings slated for last year were rescheduled for this year.
“Pnina is strategically and thoughtfully extending her brand beyond couture bridal to bridesmaids dresses and other select categories with partners who are passionate about her brand and her mission including Azazie and Jared, “ said Adina Avery-Grossman, a partner at Brandgenuity.
Retailers are also focused on building out assortments to take advantage of the expected boom in weddings this year. Off-price retailers TJX Companies and Ross Stores are carrying a mix of licensed and DTR Tutera-licensed name cards, table décor, glassware, gift wrapping, and party goods, including bags and paper plates, said Steven Heller, president of The Brand Liaison, which represents Tutera for licensing.
In addition to the surges expected for the next two years, the bridal business will also likely benefit from many couples married during the pandemic in small ceremonies opting for second weddings with larger guest lists, industry executives said. And those buying wedding gowns can expect to see an emphasis on modern designs replacing traditional ones and separates becoming a bridalwear staple, according to Brides Magazine’s recap of the recent New York Bridal Fashion Week
“Many of these companies are finally able to build on their licenses and hit the volumes they were used to pre-pandemic,” Heller said, whose agency granted contract extensions during the pandemic to LA Rocks and Urquid Linen (table linens). “Now is the time to reap the benefits of the pent-up demand, so we pushed the agreements out so they could capitalize on the opportunity. We began about six months ago and the fruits of that are now. The [wedding] calendar for the next two years is packed.”