Kakao Teams Up with Alibaba to Accelerate 'Kakao Friends' Entry into China

[Asia Economy Reporter Buaeri] Kakao announced on the 4th that it is accelerating the entry of Kakao Friends into China by partnering with Alibaba Digital Media Entertainment Group's 'Alifish.'

Alifish is the first to sign a master licensing agreement with Kakao Friends. It is entrusted with authority over product planning, development, distribution, and marketing related to intellectual property (IP).

Alifish oversees brand and IP business and is expanding its influence in the global market with IP licenses such as Japan's Pok?mon and Gundam.

Through this licensing agreement, Alifish plans to distribute various Kakao Friends products via Alibaba's e-commerce platforms, including Taobao, Tmall, and AliExpress, as part of the Kakao Friends IP licensing business in China.

Next year, Kakao Friends will hold a Super IP Day and influencer live broadcasts, and participate in China's largest shopping festivals such as the 6.18 Shopping Festival, National Day, and Singles' Day, as well as the three major music festivals in China.

Since establishing its Chinese subsidiary in 2018, Kakao Friends has pioneered the local market by operating flagship and pop-up stores in Shanghai and Taiwan. It plans to open a store within 'Universal Beijing Resort' in April next year. By strengthening its IP business in the Greater China region, it also plans to expand into European and Southeast Asian markets in the future.

Kwon Seungjo, Kakao CIPO (Head of IP Division), said, "Cooperating with Alifish will further enhance Kakao Friends' recognition and competitiveness in the Chinese market and serve as a new foundation for expanding the IP business. We plan to actively collaborate by preparing various business strategies."