Marley Estate Strikes Licensing Deal

Get ready for everything from Bob Marley key chains to Bob Marley video games. The family of the late singer has brought in a private equity group to handle the licensing of Marley's likeness, trademarks and themes.

Hilco Consumer Capital will not only handle the licensing of Marley's name and likeness, but also products carrying the names Tuff Gong, Catch A Fire, One Love, Three Little Birds and Relics of Antiquity.

Hilco's portfolio includes Tommy Armour, Bombay Brands, Ram, Ellen Tracy, Caribean Joe, Halston and Sharper Image, some of which are now out of business. The company holds the rights to the name for the purpose of future use on clothing and other products. The are currently in negotiations to acquire the Polaroid name.

James Salter, CEO of Hilco Consumer Credit, estimates that there is $600 million per year in sales of unauthorized Marley products. His company will go after the counterfitters first to reign in the problem and then begin officially marketing the Marley name. He estimates that this could be a $1 billion per year business.

Rohan Marley, daughter of the singer, said "We want our legacy and our name to be firm in the world. Dad's legacy continues to grow."