Legendary singer Prince's Estate will now be handled by merchandise and brand management section of the Universal Music Group called Bravado.
The "Purple Rain" singer's legacy will be under the protection of Bravado for branding and licensing on the celebrated musician, reported Entertainment Weekly.
"Prince's legendary performances, his unmistakable style and music, his incomparable artistry - all continue to make a lasting impression on art, music, culture, design and fashion," Bravado CEO Mat Vlasic said in an address.
He added, "Bravado will bring passion and energy to working with the Estate to create unmatched opportunities and ensure Prince continues to thrill fans and impact culture around the world."
The company is a leading global supplier of consumer, lifestyle and branding services to artists all around the world.
Prince died of an accidental fentanyl overdose in April 2016 at 57.
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