6.4 C
London
Thursday, April 18, 2024

Jay Chou’s mother, a Taiwanese pop singer, will earn $54 million from the coffee IPO

Date:

Related stories

WHO hosts the first forum on traditional medicine

The World Health Organization will convene its first summit...

Despite profit-taking, the price of oil still records a weekly rise

As the dollar rose and oil speculators took profits...

Kenya bans churches after allegations of killing worshipers who were starved

According to a government document made public on Friday,...

The IPO is expected to make the former elementary school teacher a multimillionaire even though it is smaller than the business had originally intended.

Days before the listing date, the offering last month was withdrawn by the business, which said it needed more time to prepare.

According to Yeh, 75, who sent Chou to piano lessons decades ago with foresight, the singer developed a passion of music as a young child. According to IFPI, which represents the interests of more than 8,000 members of the record business, the 44-year-old is currently among the most well-known stars in Asia, with album sales that exceeded Taylor Swift last year.

The fourth album by Chou bears his mother’s name.

Chou, known as the “King of Asian Pop,” made his Taiwanese breakthrough in 2000 with the release of his self-titled album. With a mix of R&B and melodic rap, his music was an instant smash and helped him gain notoriety in the area.

Alongside Cameron Diaz and Seth Rogen, he played the lead in the superhero film The Green Hornet in 2011, propelling him onto a larger worldwide platform.

Read Also  Tems receives backlash for her Oscar attire: fashion statement or view-blocking?

According to the IPO prospectus, Yang Chun-Jung, Chou’s agent and partner of the music label company JVR Music, and Yeh founded Star Plus Legend in 2017.

Yeh and Yang will jointly control a 24.9% share in Star Plus Legend through a holding company, which is valued at $108 million based on the offering price.

The paper states that Ma Hsin-Ting, a second co-founder and former investment consultant, will own a further 24.9% interest.

Alongside Cameron Diaz and Seth Rogen, he played the lead in the superhero film The Green Hornet in 2011, propelling him onto a larger worldwide platform.

According to the IPO prospectus, Yang Chun-Jung, Chou’s agent and partner of the music label company JVR Music, and Yeh founded Star Plus Legend in 2017.

Yeh and Yang will jointly control a 24.9% share in Star Plus Legend through a holding company, which is valued at $108 million based on the offering price.

Read Also  BTS agency staff allegedly engaged in insider trading

The paper states that Ma Hsin-Ting, a second co-founder and former investment consultant, will own a further 24.9% interest.

The brand also offers additional low-carb beverages and foods, matcha powder, and skincare goods in addition to coffee.

Additionally, it offers services for event planning and IP administration.

In an email, a Star Plus Legend representative confirmed the investment amount.

Modong, a high-fat beverage created with freeze-dried coffee, butter, and virgin coconut oil and marketed for low-carb diets, is one of Star Plus Legend’s best-selling items.

According to the company’s prospectus for the offering, in 2022, it held close to a quarter of the market share in China for bulletproof drinks.

The majority of the products are promoted online, including Wechat, Red, Douyin, China’s TikTok, and the lifestyle blogging site Douyin.

Last year, the company reported 344 million yuan ($48 million) in revenue and 64.9 million yuan in profit, the record displayed.

Chou is important to the company even though he is not involved in the operation of Star Plus Legend.

Read Also  James Arthur: 'I want to be one of the greats'

Nearly 60% of the total revenue last year came from products with promotional efforts involving Chou or his associated intellectual property.

Chou’s influence can be used by Star Plus Legend to create new material thanks to a 10-year IP authorization agreement.

One instance is the reality series J-Style Trip, which was shown on Netflix and centred on Chou and his buddies.

In its prospectus, Star Plus Legend identified its close ties to Chou as a significant risk.

It warned that “our business, financial position, and operational results may be adversely affected” if it was unable to work with Mr. Jay Chou, JVR Music, or any of his other affiliates.

Oh hi there 👋
It’s nice to meet you.

Sign up to receive awesome & exclusive content in your inbox, every week.

We don’t spam! Read our privacy policy for more info.

insiderblm
insiderblmhttp://insiderblm.com
InsiderBLM is a fast-growing business site with deep financial, media, tech, and other industry verticals.

Subscribe

- Never miss a story with notifications

- Gain full access to our premium content

We don’t spam! Read our privacy policy for more info.

Latest stories