Sanrio, Avex tie up for character licensing business in S.E. Asia
SINGAPORE, NNA - Japanese companies Sanrio Co. and Avex Inc. have tied up to boost the licensing business of "Hello Kitty" and other Sanrio characters in Southeast Asia.
The joint venture was set up in Singapore on Monday and it plans to launch the licensing business in January of Sanrio's existing and new characters in Singapore, Thailand, Vietnam, Indonesia, the Philippines, Malaysia, Cambodia, Laos, Myanmar and Brunei, the companies said in a news release Friday.
Tokyo-based Sanrio has a 70 percent share in Sanrio South East Asia Pte. Ltd., the joint venture with a capital of US$2 million. Avex Asia Pte. Ltd., a wholly owned subsidiary in the city-state of entertainment giant Avex, has a 30 percent share.
Sanrio hopes to expand its licensing business in Southeast Asia, taking note of the region's economic growth potential.
Avex Asia, established in 2013, has been promoting the export of Japanese content to Asian regions, with its activities including such licensing businesses as holding events and selling goods using Avex owned and other intellectual properties.
They plan to study the feasibility of some collaboration of Avex IPs and Sanrio characters in the future. (NNA/Kyodo)