CEO Yang Min Suk of YG Entertainment met with Aurora World CEO Choi Young Il at the YG office building on April 10 to sign a licensing contract.
The contract will bring together YG Entertainment′s K-Pop content and Aurora World′s merchandise production and licensing expertise. The two companies aim to add YG′s content to a variety of new merchandise areas, then market and sell the goods to the world.
YG Entertainment stated, “This contract signifies the crossing of paths between YG content and Aurora World’s global character products and licensing know-hows. We plan to explore various types of product we have not tried yet through the global 50,000-client network, selling and marketing products across the world. This will be the first meaningful step in developing Korea’s K-Pop influence through a systematic product commodity.”
Aurora World is a character marketing company which has recently been promoting its self-produced animation Yoohoo and Friends with Happy Meals in 6,000 McDonalds branches, scattered throughout 40 European countries.
YG Entertainment and Aurora World′s new partnership is expected to bring about a new wind in contents marketing, and expand the global K-Pop boom to a successful merchandising business.
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Together with their recent contract with Asiana Airlines, and now Aurora, YGE looks to be all about expanding their brand in 2013. Which could mean YG Family World Tour may actually really happen this year.
Aurora World develops, produces, and sells designs based on collected data from its worldwide offices and distributors. Aurora was recognized as third in the category of Brand Awareness in USA Gift Beat. Aurora products are sold through more than 25,000 retail outlets worldwide.
Bloomberg recently gave the stock favorable coverage, because of it’s ability to educe the percentage of sales devoted to selling, general and administrative costs thus increasing their net profits.
All and all this seems to be a great opportunity to globalize for YGE.
Source & Translated by: enewsworld, allkpop, Businessweek, Aurora World & AWN
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