Celebrity entrepreneur Mark Cuban is making a new investment in e-commerce, the fastest growing retail channel for licensed goods. Cuban’s eponymous Mark Cuban Collection of products featured on the TV show Shark Tank debuted June 1 on Amazon.com, forgoing Walmart, Target and other large retailers.
The Mark Cuban Collection is in the Amazon Exclusives store, which stocks products available online only from Amazon or directly from the brand’s own website.
“Amazon is the best in the world in online transactions,” Cuban said in a statement. “Smart curation and product discovery is something Amazon does very well. The Amazon Exclusives program exposes brands to new customers and handles much of the logistics. That back-end support is critical for companies that want to grow.”
Cuban echoed respondents to The Licensing Letter’s Annual Licensing Business Survey, who reported that technical problems associated with building engaging e-commerce and mobile sites as among the biggest barriers for licensed brands. Like Cuban, some respondents were enthusiastic about partnering with Amazon for growth. E-commerce comprised an estimated 10.5% of all U.S. retail sales in 2015, but an estimated 11.4% of licensed product sales, representing more than $11 billion.
The Mark Cuban Collection launched with about 100 items across 20 brands that have been featured on Shark Tank, including Power Practical’s Luminoodle rope light, The Dirty Dunk over-the-door basketball hoop laundry hamper, Tower Paddleboards, Nuts ‘N More high protein peanut butter, Alyssa’s gluten free oatmeal cookies (A Mark Cuban Company), Smooth for Men skincare products, Bottle Breacher bottle opener, Echo Valley specialty foods (A Mark Cuban Company), Loliware edible cups and Gameday Couture licensed sports apparel for women (a hot trend in sports licensing). While the products individually do not carry Cuban’s personal brand, they are promoted as having been featured on Shark Tank. Being merchandised as part of the Cuban Collection lends the outspoken entrepeneur’s cachet.
Of course, the Collection also includes Cuban’s 2013 book, How to Win at the Sport of Business: If I Can Do It, You Can Do It.