Fabacus partners with Paramount to deepen Global licensing success
Technology company, Fabacus, has announced a new global partnership with entertainment powerhouse, Paramount. This strategic collaboration will enhance Paramount’s licensing program by leveraging Fabacus’ cutting-edge technology, to create a comprehensive, digital product catalogue of all licensed products.
The digital catalogue data aims to drive sales growth across Paramount’s extensive range of IPs through enhancing brand protection, improving online discoverability, and identifying new retail opportunities for licensee partners through enhanced retail insights and analytics. In addition, the data will act as a foundation for environmental compliance for emerging European Union (EU) product related sustainability regulations.
The rollout of the partnership will begin across European, Middle Eastern and African (EMEA) markets, with plans to expand the digital innovation globally, streamlining licensing operations across Paramount’s worldwide portfolio.
Jose Castro, Paramount EMEA Executive Vice President (EVP) Licensing Consumer Products & Experiences, said, “Partnering with Fabacus is a significant step forward in the continued success and advancement of our global licensing program. Through their technology, we can ensure the authenticity of our licensed products, making it easier for consumers to find and purchase authentic Paramount merchandise, as well as provide our licensees with the tools they need to succeed. We are excited to see this collaboration come to life, bringing a myriad of benefits to our brands and our partners worldwide.”
Andrew Xeni, Founder and Chief Executive Officer (CEO) of Fabacus, also commented on the partnership announcement, “It’s brilliant to be joining forces with Paramount and implementing our technology and service. As licensing enters a new era of data requirements and regulation, we look forward to helping Paramount and all client partners achieve their goals, digitising their global licensing operations as well as protecting brand IP and consumers.”
About Fabacus
Fabacus is a pioneering data technology company working across the brand licensing, manufacturing, and retail industries. The company creates unique product identification credentials that authenticate IP ownership to form proprietary digital product catalogues at scale for retailers and brand owners. Fabacus DaaS (Data-As-A-Service) Xelacore platform facilitates an infinite number of attributes, ensuring strengthened transparency, collaboration, and trust. The company delivers comprehensive and verifiable records across the value chain by streamlining and validating product information for advanced reporting, brand protection and mitigation against counterfeit goods. Fabacus also enables brands, retailers, and event operators to engage and monetise via dynamic customer engagement channels and live events.
The Xelacore data engine powers the market leading Fabacus’ Digital Product Passport product, a full spectrum customisable and trusted solution that has been architected to capture and collate product journey information and authenticate data claims, as well as disclosing circular economy claims, decarbonisation, and climate credentials against EU regulations and GS1 environmental standards.
Fabacus was founded by successful retail and technology entrepreneur Andrew Xeni and is backed by several leading financial institutions including iNovia Partners, led by former Google CFO Patrick Pichette, as well as New Look founder Tom Singh. Fabacus’ community of blue-chip clients include Paramount, NBCUniversal, Hasbro, Fanatics, Epic Games, Ultimate Fighting Championship (UFC), Activision Blizzard and IMG, part of Endeavor. For more information and to connect with the team, visit www.linkedin.com/company/fabacusuk or www.fabacus.com
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Originally published: August 13, 2024.
H/T: Licensing.biz.
