The Licensing Industry Merchandisers' Association, or better known as LIMA, has rebranded and will now be known as Licensing International.
The rebrand comes after a year-long process to define and strike the right chord in representing the modern licensing industry.
Serving the industry as LIMA for almost 35 years, Licensing International president, Maura Regan, said that the new name instantly communicates its purpose to the business community.
"While the acronym LIMA was well-known in the licensing world, it lacked clarity beyond the confines of the industry; our new name prioritises simplicity and impact and immediately conveys our purpose to the broader business community.
"Our new Licensing International identity is also symbolic of the changes that have occurred in the licensing industry over the past three decades, and of the future path the association will forge on behalf of its members.
"The exceptional power of social media combined with a revolutionised retail experience have greatly impacted the marketing industry over the last decade, and as a result, the profile of brand licensing has been elevated for its ability to deliver significant engagement and profit in a highly competitive environment.
"This rebrand reflects the importance of brand licensing in the ever-evolving marketing mix," she said.
The rebrand also comes with a refreshed website and member portal which has been designed to give users a more sophisticated experience, improve communication and increase engagement. The brand will also been visible on major social platforms under its new name.
"Through the years, our organisation has been at the centre of the licensing business, promoting best-in-class successes, supporting the professional development of our members and inspiring commercial and creative excellence in licensing," Regan said.
"Those priorities remain as we enter this new chapter. We will also place renewed importance on our key goals including; fostering the growth and expansion of licensing globally; raising the level of professionalism of licensing practitioners; and, generating greater awareness of the benefits of licensing in the business community at large."