Thai trans tycoon welcomes revenue surge from universal beauty
The purchase of the Miss Universe Organisation by JKN Global Group has already seen 800 million baht flow into the Thai company so far, and the amount will rise to 1.2 billion baht this year, its CEO and managing director Jakkaphong “Anne” Jakrajutatip told a press conference.
El Salvador is paying 400 million baht to host the pageant this year and JKN is in the process of signing contracts for hosting the pageant for the following two years, she said.
JKN bought the Miss Universe Organisation from Endeavor Group in October last year.
JKN plans to use the Miss Universe brand to promote its own consumer products, starting with beverages that will be launched in the first quarter of this year, Jakkaphong said.
JKN is planning to expand into the beverage, wellness and cosmetic segments with direct sales to consumers through JKN18 channel, JKN Hi shopping and Omni Channel and Social Commerce, she said.
Revenues will total 4 billion baht this year, Jakkaphong said.
JKN aims to become a global content creator and to take the lead in Asean by purchasing the rights to sell global brands.
“We are currently using JKN Global to sell the Miss Universe organisation [for] broadcast fees, franchise fees, production fees, everything. So, as we go into the content market, we go as JKN Universe or Miss Universe organisation. That’s part of the blending,” Anne explained.
“The second part will be consumer products. A lot of them will be branded as Miss Universe skin care, Miss Universe cosmetics, and beverages, too … [Miss Universe] beverages will include collagen, multivitamin beauty drinks, and also mineral water. Everything will be under the same ecosystem, led by the logo or brand of Miss Universe,” she added.
The success of the Miss Universe Organisation has improved JKN’s cash flow. As a result, its board of directors agreed at a January 30 meeting to cancel a decision made on January 5 to sell an additional 1,019,917,296 shares to increase its capital.
Instead, it will sell 510,043,387 shares to existing shareholders, and reduce the number existing shareholders can buy to two new shares for every share they hold, instead of three.
JKN will also issue new ordinary shares – 66,666,666 million at 4.50 baht apiece – in a private placement to Unistretch Co Ltd, which is part of the GP Group under the management of Nishita Shah.
The group is JKN’s strategic partner in expanding the Miss Universe Organisation.
JKN decided to postpone the rights offering and reduce its size because it forecasts higher than expected revenue this year from the Miss Universe Organisation.
The reduced rights offering will have no effect on JKN’s expansion plans, Jakkaphong said.