GLOBAL SUPERSTAR DOLLY PARTON AND CONAGRA BRANDS ENTER EXCLUSIVE LICENSING PARTNERSHIP FOR RETAIL FOOD
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Insights
The collaboration between Conagra Brands and Dolly Parton marks a strategic move to leverage celebrity influence in expanding product lines. This partnership is not merely an endorsement; it signifies a deeper integration of Parton's personal brand with Conagra's existing and new product categories. The introduction of comfort food-inspired items aligns with current consumer trends favoring familiar and nostalgic flavors, which could resonate well with target demographics.
From a market research perspective, the expansion into breakfast and frozen categories could potentially fill gaps in Conagra's portfolio and attract Parton's fan base as new consumers. The success of this partnership will largely depend on the execution of marketing campaigns and the ability to maintain product quality that meets consumer expectations associated with Dolly Parton's brand. It's essential to monitor consumer reception and sales data following the rollout to evaluate the effectiveness of this celebrity-brand synergy.
Conagra's decision to deepen its partnership with Dolly Parton can be seen as a strategic brand extension. Dolly Parton's strong personal brand, characterized by authenticity and a broad appeal, provides a unique competitive advantage. By associating with her image, Conagra taps into a cultural icon known for her Southern roots, which could enhance the authenticity of the new product line's Southern cooking and comfort food focus.
Brand extensions can be risky if the new products do not align with the core brand values or if the celebrity endorsement overshadows the product quality. However, if managed correctly, this partnership could lead to increased brand equity for Conagra and create a halo effect that improves consumer perception of their broader product range. It will be important to ensure that the product development process remains true to the quality and values Dolly Parton represents to her audience.
The financial implications of Conagra's expanded partnership with Dolly Parton could be significant. Celebrity partnerships often lead to increased brand visibility and can drive sales, especially when the celebrity has a strong connection with the product. Conagra's stock (NYSE: CAG) may see a positive impact if the new product line meets sales projections and captures market share in the comfort food segment.
Investors should watch for quarterly earnings reports and sales data related to the new product line for indications of the partnership's success. It will be crucial to assess the partnership's return on investment by analyzing marketing spend, product development costs and the incremental revenue generated. While there is potential for success, it's also important to remain cautious and consider the longevity of such partnerships, as consumer interest can be fickle and dependent on continued relevance of the celebrity's image.
Partnership Expands Beyond Duncan Hines Sweet Treats to Breadth of New Food Categories
"I loved co-creating my Duncan Hines line with Conagra and I'm thrilled we're going well beyond the baking aisle with new items across the store," said Dolly Parton. "We're looking to continue to inspire special moments in the kitchen, with some of my family's favorite recipes, and I think people are really going to love them!"
The new products will start rolling onto store shelves nationwide this January, with an expanded line-up of Duncan Hines' mixes including Chocolate Cake Mix, Yellow Cake Mix, Cinnamon Crumb Cake Mix, Blueberry Muffin Mix and Banana Nut Muffin Mix. Additionally, the first single branded Dolly Parton item, Buttermilk Pancake Mix, will start hitting shelves this winter and marks Dolly's first foray into the breakfast category. More items are expected to launch later in 2024 including frozen items.
"This unprecedented partnership with Dolly Parton gives us an incredible opportunity to further cement Conagra Brands in our established categories, while authentically positioning us for tremendous growth in new ones including Southern cooking and comfort food," said Tom McGough, Chief Operating Officer at Conagra Brands.
"We are beyond thrilled to build on the success of our partnership with one of the most beloved and respected women in the world," added Lucy Brady, President of Grocery & Snacks at Conagra Brands. "With our expertise in food, we'll help bring Dolly's vision and favorite recipes to so many tables across America, with delicious new offerings across a wide range of eating occasions."
The multi-year, multi-category agreement was facilitated by licensing agency IMG.
Visit bakingwithdolly.com to learn more about the current and future line-up of Dolly Parton food products.
Limited-Edition Baking Kit
Duncan
The kit includes:
- Dolly Parton's Blueberry Muffin Mix, Cinnamon Swirl Crumb Cake Mix, Favorite Chocolate Cake Mix and Creamy Chocolate Buttercream Frosting
- An exclusive magnet featuring the popular illustration of Dolly from the Duncan Hines' packaging
- A Dolly-inspired, collectible oven mitt
- Recipe cards that feature some of Dolly's favorite recipes like Lemon Glazed Blueberry Crumb Cake and Coffee Cake Muffins.
Dolly Parton's Bake Like a Rockstar Baking Collection can be purchased for
About Conagra Brands
Conagra Brands, Inc. (NYSE: CAG), headquartered in
About Dolly Parton
Dolly Parton is the most honored and revered multi-hyphenate of all time and was recently inducted into the Rock and Roll Hall of Fame. Her current album "Rockstar" made history by scoring the biggest album debut sales week of her seven-decade career and earning her six #1s on the Billboard charts - Top Rock Albums, Top Rock & Alternative Albums, Top Country Albums, Top Album Sales, Top Current Album Sales, and Independent Albums. The landmark album also claimed the #3 spot on the Billboard 200 chart, her highest position ever. Achieving 27 RIAA-certified gold, platinum, and multi-platinum awards, she has had 26 songs reach #1 on the Billboard country charts, a record for a female artist. Parton is the first artist to have topped Billboard's Adult Contemporary, Christian AC Songs, Hot Country Songs, Christian Airplay, Rock Digital Songs, Country Airplay and Dance/Mix Show Airplay radio charts. Parton became the first country artist honored as Grammy MusiCares Person of the Year given out by NARAS. She has 49 career Top 10 country albums, a record for any artist, and 120 career-charted singles over the past 50+ years. On October 17, 2023, she released her second New York Times Best Seller coffee table book in a trilogy called "Behind The Seams: My Life in Rhinestones." The first of the series was bestselling coffee table book "Songteller: My Life in Lyrics."
In 2014, the RIAA recognized her impact on recorded music with a plaque commemorating more than 100 million units sold worldwide. She has amassed eleven Grammy Awards and 52 nominations, including the Lifetime Achievement Award, 10 Country Music Association Awards, including Entertainer of the Year; five Academy of Country Music Awards, also including a nod for Entertainer of the Year; four People's Choice Awards; and three American Music Awards. In 1999, Parton was inducted as a member of the coveted Country Music Hall of Fame.
Dolly has the largest fan base of all measured music artists in the YouGov database at #1 with 198 million. She has the #1 Q Score of all performers, solo and group. Dolly is one of only 25 celebrities in the E-poll database to have an E-score of 100 and has maintained that perfect rating for 8 years. She recently won Best Brand Award, Celebrity, Influencer and Fashion at the 2023 Licensing International Excellence Awards.
To date, Parton has donated over 222 million books to children around the world with her Imagination Library. Her children's book, Coat of Many Colors, was dedicated to the Library of Congress to honor the Imagination Library's 100 millionth book donation. In March of 2022, Parton released the book Run Rose Run which she co-authored with James Patterson which sat at # 1 on the New York Times Best Sellers List for 5 weeks, a record for this decade. She also released an accompanying album of the same name with original songs inspired by the book which reached #1 on three charts simultaneously --- Country, Americana/Folk and Bluegrass Albums. From her "Coat of Many Colors" while working "9 to 5," no dream is too big and no mountain too high for the country girl who turned the world into her stage.
About IMG
IMG is a global leader in sports, fashion, events and media. The company manages some of the world's greatest athletes and fashion icons; owns and operates hundreds of live events annually; and is a leading independent producer and distributor of sports and entertainment media. IMG also specializes in licensing, sports training and league development. IMG is a subsidiary of Endeavor, a global sports and entertainment company.
For more information, please contact:
Lanie Friedman
Conagra Brands
(312) 549-5316
lanie.friedman@conagra.com
Marcel Pariseau
True Public Relations
(323) 957-0730
marcel@truepublicrelations.com
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SOURCE Conagra Brands, Inc.
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