There will be “Lupin” pillows and Netflix-branded boxer shorts.
Caps, necklaces, charms and hoodies will be up for sale on Netflix.shop, a site that goes live on Thursday, when the world’s largest streaming company raises a flag in the e-commerce space.
shopping site offers Netflix A new way to bring in cash after a quarter that saw its explosive growth signs of slowing down In an increasingly crowded field of streamed entertainment, one that now includes a formidable rival to Disney+.
Unlike some of its competitors, including Hulu and HBO Max, Netflix, “Bridgeton,” “The Witcher” and “The Crown” do not house ads, relying on monthly fees paid by its more than 200 million customers worldwide. That’s where Netflix.shop comes in.
The site is the next logical step for a company that got serious about the retail business in the past year, an effort led by executive Josh Simon, who runs Netflix’s consumer products division.
Mr Simon joined the company in March 2020 after serving in a similar role at Nike. On their watch, the consumer products team has grown from 20 to 60 people, and Netflix has partnered with Walmart, Sephora, Amazon, and Target to sell clothes, toys, beauty kits, and home accessories, among other items from its chain. related deals. movies.
Netflix created an online store with tech company Shopify. Mr Simon described it as a “boutique”, and said only products associated with certain Netflix shows would be included in its first few weeks.
“Lupin” The buzzy French crime show, about an expert thief, will be front and center on Netflix.shop later this month. In addition to baseball caps, T-shirts, hoodies and sweaters, “Lupin”-related Merchandise will include throw pillows ($60 each) and a side table ($150), all designed and manufactured in collaboration with the Louvre Museum.
Two Netflix anime series, “Eden” and “Yasuke,” will be shown in stores on day one. A watch based on the “Yasuke” character Haruto, created in collaboration with artist and designer Nathalie Nguyen, costs $135.
There is also a “Yasuke” clothing line, which came from a collaboration with streetwear label Hypeland and its founder, Jordan Bentley. “It is part of the drop culture where kids line up on Fairfax Avenue in Los Angeles to buy their products,” said Mr. Simon.
In the coming months, products linked to other Netflix shows, including “Stranger Things” and “Money Heist,” will appear on online shelves.
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The demand seems to be there: Thousands of fan-made products related to the Netflix documentary series “Tiger King,” including candles, face masks and greeting cards, are on sale on Etsy and similar sites, without the company’s blessing.
Netflix has cashed in on hits like “Bridgeton” with producer Shonda Rhimes’ period romance, which debuted in December. Netflix kicks off sales, working with clothing company Phenomenal $59 Sweatshirts Inspired by the show. The line includes a lavender hoodie with the words “I wish to be entertained” on the front, as well as a crew neck with the message “I burn for you”.
Netflix’s romantic-comedy film franchise, “To All the Boys I’ve Loved Before,” has spawned a clothing and accessories line at H&M as well as beauty kits at Sephora. There are also a Mattel doll and a Walmart plush toy tied to the Netflix animated hit “Over the Moon.”
Netflix.shop will allow the company to move faster to meet demand for Netflix-related items, which shows that trend on social media. “We did that very quickly,” said Mr. Simon of the “Bridgeton” sweatshirts, “but I think we’re talking about the days when we’ll have our next unexpected hit.”
The company’s decision to run its store through Shopify was driven by a desire for quick turnaround times, which technology supports An array of vendors including Allbirds, Keith, The New York Times and Kim Kardashian’s Skim.
Company president Harley Finkelstein said Shopify had experience handling “big drops,” from Taylor Swift albums to sneaker releases, and that it can handle thousands of checkouts per minute. “We’ve become battle-hardened around some of the biggest flash sales on the planet,” he said.
Products based on entertainment hits go back to the early days of Hollywood. Disney sold plates, jigsaw puzzles, tin pails and other items of Mickey Mouse, Pinocchio, Snow White and other characters in the 1920s. Decades later, George Lucas made a fortune thanks to a casualty deal he struck with Fox, which let him hang on to the rights to “Star Wars” products in exchange for a rebate on his director’s fee, an arrangement he made prior to the first film. was. Series out.
Tech companies are now getting in on the act as they look for new revenue streams. Google recently announced plans to open a New York store, and Instagram has rocked Its in-app purchase features.
According to the most recent study of the industry by Licensing International, a trade group, sales of licensed products involving shows, movies and characters were approximately $49 billion in the United States in 2019 and $128 billion globally. The biggest player in the order of magnitude is Disney.
Netflix executive Mr Simon said the money generated by the shopping site is not expected to match the amount Netflix has made from deals with store chains and fashion brands. “In practice, revenue will exceed those partners around the world in terms of sheer footprint and number and magnitude of locations,” he said.
Unlike Disney, which is estimated to sell tens of billions of dollars each year in merchandise, Netflix has no plans for brick-and-mortar stores in malls or Times Square.
Mark A. Cohen, director of retail studies and an assistant professor at Columbia University’s business school, said he was skeptical about the longevity of the Netflix store, because of the excitement around its opening, in part due to the coming and going. Due to the cycle of Netflix hits.
“Most of them have a short shelf-life, unlike a Disney property, which is a generation-long ride,” he said.