Generating revenue by lending name through license agreements
Various products sold including NFT, sneakers, and coins
Criticism of "using elections for profit"
Former President Donald Trump has started a watch sales business. [Source=gettrumpwatches homepage capture]
Former U.S. presidential candidate Donald Trump has started a watch sales business worth around 100 million won.
On the 26th (local time), U.S. media outlets including CNN reported that former President Trump is selling high-priced watches embedded with diamonds. On this day, 40 days before the presidential election, he announced on his social media, "'Trump Watch' has been launched," adding, "It will make a great Christmas gift. Don’t wait. They sell out quickly." Among the upcoming Trump watches, the 'Fight, Fight, Fight' model is priced at $499 (about 660,000 won), and the 'Tourbillon (whirlwind)' model is priced at $100,000 (about 130 million won). In particular, the high-end model is made with 122 diamonds and 200 pieces of 18K gold, and is limited to 147 units.
Meanwhile, former President Trump earns money by licensing his name and image for use on various products. The Trump watches are also sold by a company borrowing the 'Trump' name. CNN commented, "This is a method no presidential candidate has ever tried before," and noted, "Since entering the re-election race, former President Trump has earned millions of dollars (tens of billions of won) through this method."
A coin engraved with former President Donald Trump's face and signature has been released. [Source=Instagram @realtrumpcoins account]
In fact, last year he signed a licensing agreement with a company selling non-fungible tokens (NFTs), generating revenue of $7.2 million (about 9.5 billion won). Earlier this year, through a publishing company co-founded by his son Donald Trump Jr., he sold 'Trump Golden Sneakers' for $399 (about 520,000 won), which sold out. He even sold a Bible themed around Trump. Since last month, he has been selling 'digital trading cards' in NFT form featuring his image for $99 (about 130,000 won). Additionally, this week he launched the 'Trump Coin,' made of approximately 28g of pure silver. The coin features his face on the front and his signature on the back. Other products released under Trump's name include perfumes, mugs, and golf shoes.
Former President Trump has faced criticism for "using his presidential campaign as a money-making venture" due to these actions. The Associated Press noted, "Since starting his White House campaign this year, Trump has sold a series of products," and pointed out, "His competitor, Vice President Kamala Harris, claims he is 'out of touch with the economic hardships of Americans,' and the high-priced watches recently released could be criticized for monetizing the campaign."
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