WPP pacts with IMG for licensing

Joint team to maximize WPP portfolio potential

WPP, the advertising and marketing giant, is partnering with talent rep and licensing firm IMG Worldwide to help companies enhance their brands through new licensing deals, the companies said Tuesday.

For WPP topper, Martin Sorrell, the partnership is a homecoming. He once worked at IMG directly for founder Mark McCormack. ”More than ever, licensing is emerging as one of the new creative ways of developing brands and sales,” Sorrell said Tuesday.

”It is a capability we see as increasingly important to our clients. We wanted to offer this important discipline in a global execution and with the market leader — that is IMG. In our view, there could be no better partner to help us achieve our goals in this area.”

A joint team comprised of execs from both companies will work with clients from WPP’s large portfolio of agencies.

”We believe that our global execution capability and specialized expertise in the licensing business coupled with their deep-rooted knowledge and relationships with certain client companies can yield some very beneficial and successful partnerships,” said George Pyne, prez of IMG’s sports and entertainment group.