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Showing off a little Hokie pride
Virginia Business
September 2004
Based
solely on their ability to shop, Hokie fans officially
get the nod for being the most rabid in the state. Virginia
Tech announced recently that its merchandise licensing
royalties topped the $1 million mark for the first time
ever in the 2003-04 fiscal year, a figure that translates
into more than $25 million in retail sales of shirts,
hats, coffee cups, umbrellas, golf balls and other game
day must-haves bearing the VT name or logo. By comparison,
the University of Virginia took in just over $717,000
in licensing royalties during the same time frame.
And it appears that Virginia Tech — which collects
an 8 percent royalty on wholesale goods and uses the
money to offset tuition costs — is likely to extend
its lead in this particular contest, thanks in part
to the school’s recent move from the Big East
to the Atlantic Coast Conference, which also includes
U.Va. The fall’s newest merchandise items, which
hit stores in the Roanoke and New River Valley in late
summer, will bear a logo celebrating Virginia Tech’s
new ACC affiliation, and school officials are hoping
that Hokie fans will “upgrade” their orange-and-maroon
wardrobes and drive sales figures even higher. States
Locke White, Virginia Tech’s director of licensing
and trademarks, “There are a lot of people across
the country who want to show off their Hokie pride.”
And apparently, their Hokie credit cards.
Return to Virginia Business - September 2004
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