A record spike in University of Wisconsin merchandise sales will double the number of grants for low-income students for the 2008-09 school year.
According to Cindy Van Matre, UW trademark licensing director, Bucky apparel raked in $2.8 million in royalties by the end of June 2008. Half of the royalties will be given to the UW athletics department, and the other half will be designated to the Bucky Grants fund.
Nearly 150 students received awards last year, but with record sales, almost 300 grants will be available this year according to financial aid director Susan Fischer. Each grant is expected to average $4,666 this year, $1,333 more than the grant average given in 2007-08.
The financial aid office focuses on the lowest income students, designing packages to help both in-state and out-of-state students. The parents of recipients often average $20,000-$24,000 in income per year, Fischer said.
“Our job is to sift through 25,000 applications and to find those with the least economic advantage. It is just one more piece to the puzzle that makes it possible for them to attend,” Fischer added. “I do not think people buy apparel because it is helping needy students, but it is great that they are supporting their campus.”
Van Matre said a royalty rate increase from 8 to 10 percent is the main reason for the sales improvement, which is the first rate change since 1996. She also credited strong sweatshirt sales because of the cold climate in Wisconsin and t-shirt sales with improved revenue.
“The rate increase accounted for about $400,000 in revenue,” Van Matre said. “But even without the royalty rate increase, we still would have broken last year’s record.”
The royalty rate increase was instituted primarily because it had not been changed in several years, but also because several major colleges across the country also decided to raise their rates, Van Matre said.
Cameron Wright, university services representative for UW’s licensing agent College Licensing Company, said the sales increase is due to a combination of things, including UW’s recent athletic success and large size.
“[UW] is a big school. It dominates the state of Wisconsin,” Wright said. “I think people just really like Bucky and the Motion W.”
According to Van Matre, UW has worked with Collegiate Licensing since its trademark-licensing program began in 1988. The company is expected to renew its contract with UW through 2018, she said, lowering its administrative fees and returning more money to the university, which means more funds for financial aid and UW athletics.
“For football games you see so many fans, and my gosh, look at the red. If you ever see on TV where the Badgers are playing, you see all that red, and it is just amazing,” Fischer said. “I just want to thank the students and fans who buy logo-wear because it makes a difference not only in team support, but to somebody. It’s a wonderful thing.”
