There will be “Lupine” pillows and boxer shorts from Netflix.
There will be caps, necklaces, charms and hoodies, all of which will be available on Netflix.shop, a website that goes live on Thursday when the world’s largest streaming company raises a flag in the e-commerce arena.
The shopping site offers Netflix a new way to bring in cash after a quarter in which its explosive growth in the increasingly dense arena of streamed entertainment, which now includes a formidable rival on Disney +, showed signs of slowing.
Unlike some of its competitors, including Hulu and HBO Max, Netflix, the home of Bridgerton, The Witcher and The Crown, has no commercials and relies on monthly fees paid by its more than $ 200 million Subscribers are paid the world. This is where Netflix.shop comes in.
The website is the next logical step for a company that has been seriously into the retail business for the past year, led by Josh Simon, who heads Netflix’s consumer products division.
Mr Simon joined the company in March 2020 after working in a similar position at Nike. Under his supervision, the consumer products team has grown from 20 to 60 people, and Netflix has done deals with Walmart, Sephora, Amazon and Target to sell, among other things, clothing, toys, beauty kits and housewares related to its series Movies.
Netflix created the online store with tech company Shopify. Mr Simon described it as a “boutique,” adding that products that are only tied to a few Netflix shows will be included for the first few weeks.
“Lupine,” the lively French crime series about a seasoned thief, will be the spotlight on Netflix.shop at the end of this month. In addition to baseball caps, t-shirts, hoodies, and sweaters, the “Lupine” -related merchandise will include throw pillows ($ 60 each) and a side table ($ 150), all in partnership with the Louvre. Museum designed and manufactured.
Two Netflix anime series, “Eden” and “Yasuke”, will be shown in the store on the first day. A watch based on the “Yasuke” figure Haruto, which was designed in collaboration with artist and designer Nathalie Nguyen, costs 135 US dollars.
There is also a clothing line “Yasuke”, which was created through a collaboration with the streetwear label Hypland and its founder Jordan Bentley. “He’s part of that drop culture where kids line up on Fairfax Avenue in Los Angeles to buy his products,” said Simon.
Products related to other Netflix shows, including Stranger Things and Money Heist, will hit online shelves in the coming months.
Daily business briefing
June 10, 2021, 3:36 p.m. ET
The demand seems to be there: Thousands of fan products related to the Netflix documentary series “Tiger King”, including candles, face masks and greeting cards, are being sold on Etsy and similar sites without the company’s blessing.
Netflix has benefited from hits like “Bridgerton,” a historical romance by producer Shonda Rhimes that debuted in December. Working with clothing company Phenomenal, Netflix began selling $ 59 worth of sweatshirts inspired by the show. The line includes a lavender-colored hoodie with the words “I Wish to Be Entertained” on the front and a round neckline with the words “I Burn for You”.
To All the Boys I’ve Loved Before, a Netflix film franchise for romantic comedies, has spawned a line of clothing and accessories at H&M and beauty kits at Sephora. There are also Mattel dolls and a Walmart plush toy tied to the Netflix animated hit “Over the Moon”.
Netflix.shop will allow the company to meet demand for Netflix-related items faster, demonstrating this trend on social media. “We did it pretty quickly,” said Mr. Simon of the Bridgerton sweatshirts, “but I think we’re talking about a day when we have our next unexpected hit.”
The desire for fast turnaround times helped the company decide to run its shop on Shopify, whose technology supports a range of vendors including Allbirds, Kith, The New York Times, and Kim Kardashian’s Skims.
Harley Finkelstein, the company’s president, said Shopify has experience handling “big drops,” from Taylor Swift albums to sneaker releases, and it can handle tens of thousands of checkouts per minute. “We’re battle-tested in some of the biggest flash sales in the world,” he said.
Products based on popular entertainment date back to the beginnings of Hollywood. As early as the 1920s, Disney was selling plates, puzzles, tin buckets and other goods with Mickey Mouse, Pinocchio, Snow White and other characters. Decades later, George Lucas made a fortune thanks to a fortuitous deal he made with Fox that allowed him to retain the rights to “Star Wars” products in exchange for a discount on his directing fees. The series is out.
Tech companies take action now as they look for new sources of income. Google recently announced plans to open a New York store, and Instagram has expanded its in-app shopping capabilities.
Sales of licensed products related to shows, movies and characters were approximately $ 49 billion in the US in 2019 and $ 128 billion worldwide, according to the latest industry study from Licensing International, a trading group. The largest player by orders of magnitude is Disney.
Mr Simon, the Netflix executive, said the money generated by the shopping site is unlikely to match the amount Netflix makes from its chain stores and fashion brands. “In practical terms, the revenue will come more from these partners around the world in terms of sheer presence, number of locations and scale,” he said.
Unlike Disney, which is estimated to have tens of billions of dollars in merchandise sales each year, Netflix has no plans for brick and mortar stores in malls or Times Square.
Mark A. Cohen, director of retail studies and associate professor at Columbia University’s business school, said he was skeptical about the longevity of the Netflix store after the excitement about its opening subsided, in part because of the comings and goings Cycle of Netflix hits.
“Most of them have a short shelf life, unlike Disney properties, which are a generational drive,” he said.