The rights to the Smiley trademark in one hundred countries are owned by the Smiley Company. Its subsidiary SmileyWorld Ltd, in London, headed by Nicolas Loufrani, creates or approves all the Smiley products sold in countries where it holds the trademark. The Smiley brand and logo have significant exposure through licensees in sectors such as clothing, home decoration, perfumery, plush, stationery, publishing, and through promotional campaigns. The Smiley Company is one of the 100 biggest licensing companies in the world, with a turnover of US$167 million in 2012. The first Smiley shop opened in London in the Boxpark shopping centre in December 2011.