The National Geographic Society has bloomed into a money-making machine, The Washington Post reported June 25.
Money that the Washington-based nonprofit raises by licensing its name to manufacturers and marketers has grown by nine times in the past four years, the newspaper said.
The organization this year expects to sell more than $200 million worth of products, including upscale outdoor gear, the Post said.
“The goals are to get the society’s mission in front of more people, to extend the reach of the brand and to raise more money to support the organization’s mission to increase and expand knowledge about geography,” John M. Fahey Jr., the group’s president, told the Post.
Annual revenues totals more than $500 million, including revenue fees and grants, and the group has 23 licensing partners.
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