China Licensing Expo opens in Shanghai, with big names like Hasbro in
The 16th annual China Licensing Expo in the Pudong New Area is bringing together 2,240 global intellectual property (IP) assets and providing a crossover collaboration platform for IP licensing and licensed enterprises.
Animation, art and culture, video, electronic games, portrait images, fashion, books and music, and sports are among the 11 categories covered by the IPs.
Hasbro, a prominent toy and game manufacturer, brought its core brands, such as Transformers, My Little Pony, Peppa Pig and Monopoly, to the expo site while unveiled its new entertainment programs and licensing plan for the next year.
In 2024, iconic Hasbro brands will mark key anniversaries, including Transformers' 40th anniversary, Peppa Pig's 20th anniversary, and Dungeons & Dragons' 50th anniversary.
Hasbro has been generating cherished moments for generations of children and families worldwide through its robust content production and innovation since its beginnings in the United States in 1923.
It presently has around 1,500 distinct brands, runs brand licensing offices around the world, and partners with over 1,800 licensees across multiple domains.
The Chinese licensing business has expanded rapidly in recent years. According to the 2023 China Brand Licensing Industry Development White Paper, retail sales of licensed items and the scale of licensing royalties in China have increased during the last five years.
In 2022, China's annual retail sales of licensed goods reached 139 billion yuan (US$19.42 billion), representing 1.2 percent year-on-year growth, and annual licensing royalties reached 5.42 billion yuan, up by 1.9 percent compared with the previous year.
To capitalize on the rapidly expanding prospects in the Chinese market and provide the finest play experiences to Chinese customers, Hasbro is deepening consumer insights to better understand Chinese consumers' wants and habits, with a focus on localization.
"Hasbro is a global leader in play, and we believe that the essence of successful globalization lies in localization," stated Marianne James, Hasbro's vice president of Licensed Consumer Products for Europe and Asia.
"China has become a vital strategic market and growth engine for Hasbro, and we have seen significant progress in our operations in the market in recent years. Hasbro has a long-term positive outlook on the Chinese market and plans to further expand its presence in China, working with more local partners to bring products and experiences that resonate with local consumers."