The University of Cambridge is home to museums, libraries and a botanic garden. These have all been affected by the pandemic, prompting the institution to explore new revenue streams (via Licensing.biz).
“The university and its museums normally welcome 7 million visitors each year which has been negatively affected by COVID,” said Bethan Garton, commercial director at The Point.1888.
“We were pleased in 2020 to support their important work via licensing to generate much needed income,” added Garton. “Our plans for this year will do so much more and we’re delighted to be seeing it all put into action.”
Fitzwilliam Museum Enterprises teamed up with The Point.1888 in early 2020. Since then, the university has been selling homewares, wall art, furniture and accessories on Fy. In addition, a range of prints launched in September 2020.
New revenue streams during COVID-19
The Point.1888 aims to launch additional licensing programmes for the university brand, museum collections and botanic garden through 2021. This includes homewares, garden, food gifts, collaborations, toys and games, and apparel and accessories.
The company is in the final stages of developing a virtual summit for licensees and retailers to learn more about the University of Cambridge, which will be held in early summer 2021.
“All of our income goes to support the vital research and activities of our museums and botanic garden,” said Len Dunne, CEO of FME Ltd.
“We are excited to expand our UK licensing activities programme working with the dynamic team at The Point.1888,” added Dunne.
Images: University of Cambridge