Bob Marley's family just announced that it's partnering with private-equity firm Hilco Consumer Capital in a deal that would put Hilco in charge of licensing Marley's image. The company says it's considering everything from accessories and footwear to video games, restaurants, and even luggage.
According to the WSJ, Hilco invested some $20 million in exchange for half of House of Marley, LLC., which is a joint venture with the Marley family. On the agenda: cracking down on counterfeiters and selling the rights to make products under the brands Tuff Gong, One Love, Three Little Birds, Catch A Fire, and Relics of Antiquity. Also high on the list is rolling out a Jamaican beer called "Marley Lager."
Hilco's chief executive told the Journal that the Marley products could turn into a $1 billion retail business within a few years.