To be perfectly candid, I think it’s a structural weakness of most large companies: thinking about new category development. You tend to get focused on your existing business and very obvious adjacencies, and then you tend to lose sight of, “Hey, this new thing that’s kind of coming up the pike.” And I think we’ve been as guilty of it as anyone. The way that we’re countering it is in two ways. The first way is that our licensing business isn’t just a very high-profit, high-growth business for us; we also use it as a learning lab. We tend to be very liberal in how we license out many of our brands, especially in marketplaces… or in markets or regions where we don’t have a lot of go-to-market capacity, so like China. And we’re able to learn from the local partners about what’s hot and what works in a fantastic collectible and innovation market like China and Southeast Asia.
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struct Rectangle {
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