Refinery29 to diversify revenue as IMG steps up to barter consumer product deals
Refinery29, the female-orientated media brand, is to diversify its revenue stream by courting licensing deals from manufacturers.
Refinery 29 partners with IMG
It will work with IMG to help deliver these new deals, its first-ever global licensing partner. On the table are opportunities in health and beauty; apparel and accessories; office; and home, bedding and décor.
The brand hopes that some of its 425 million users will be attracted to new lines carrying its branding.
Sarah Personette, chief operating officer of Refinery29, explained: “We are excited to expand our direct to consumer business to forge deeper connections with our audience and create additional opportunities to better serve her across a variety of categories.
“IMG’s proven ability to license premium content with relevance and scale will further drive awareness of Refinery29 as a discovery platform for consumers and brands.”
Merchandise will sit as an alternative revenue stream, alongside its events branch 29Rooms which has sold nearly 75,000 tickets since 2015.
Research from the site claims that half of users trust brands featured on Refinery29. More than half have purchased goods they first saw on Refinery29.
It also monetises off the back of brand partnerships like the sneaker project it ran with Adidas last year.
