(NEW YORK) August 11, 2008 — As countless manufacturers and retailers scramble to address growing weakness in consumer spending, the market for apparel licensing opportunities is poised to flourish.

In fact, the global licensing industry is on track to break the $200 billion mark this year, with fashion licensing deals expected to rack up over $40 billion in retail sales.

For brand owners from Michael Kors, to Diane Von Furstenburg, Lucky Jeans to Run Athletics, the benefit of licensing is two-fold, providing additional revenue streams while also enhancing brand awareness and reach through product extension via sneakers, accessories, cologne, cosmetics, housewares and more.

Retailers’ deals with consumer-friendly brands serve as a welcomed source of foot traffic and, ultimately, sales in an otherwise slumping retail environment. Most recently, the industry has seen such collaborations as LL Cool J and Sears, Marvel and Carrefour, Disney’s Hannah Montana and Wal-Mart, and Disney’s Camp Rock and Target, among many others.

Manufacturers have also jumped into the fray, from Reebok’s Kool-Aid sneaker collection to Adidas’ Dale Earnhart Jr. line of apparel.