T.G.I. Friday's exploring expansion of retail business
August 11, 2011
by Eric Schroeder
CARROLLTON, TEXAS — T.G.I. Friday’s announced plans to expand its licensed retail business by targeting new licensees in the food, beverage and home goods categories.
“Our approach to licensing is as important and strategic as any other aspect of our marketing efforts,” said Trey Hall, senior vice-president and chief marketing officer for T.G.I. Friday’s. “The expanded licensing program aims to package the fun and excitement of a casual dining or a late-night bar experience into products consumers can enjoy at home to extend the Friday feeling beyond the restaurant and bar.”
H.J. Heinz Co., Pittsburgh, has held the licensing rights to the T.G.I. Friday’s brand of retail frozen snacks and appetizers for nearly 10 years, while Phoenix-based Inventure Foods originally introduced its licensed line of T.G.I. Friday’s ready-to-eat snacks in 2000.
According to T.G.I. Friday’s, its licensing program includes more than 50 million product units resulting in more than $400 million in sales annually.