UK clothing manufacturers could be missing out on the growing licensing market according to new figures published by the International Licensing Industry Merchandisers' Association (LIMA). The recent study, which was part sponsored by researchers at the Yale School of Management and the Harvard Business School, showed that US manufacturers, many of them in the apparel industry, spent a staggering $5.847bn last year on royalties, up by four per cent on the previous year. The reason for the increase is that more US companies, faced with an economic slowdown, are turning to film characters and other properties to boost sales.