Sanrio ties up with Honk Kong trader Li & Fung
Monday 18th October, 03:13 AM JST
TOKYO —
Character creator Sanrio Co has tied up with Hong Kong trader Li & Fung to accelerate its overseas expansion. Li & Fung, which has acquired a 1% stake in Sanrio, operates toy stores of the U.S. Toys ‘‘R’’ Us chain in China and Southeast Asia, and has developed close relations with European and U.S. retailers.
Sanrio hopes to take advantage of the trader’s global network to expand overseas sales of Hello Kitty and other character goods. The Japanese firm also plans to reduce production costs for character goods by utilizing Chinese and Vietnamese factories that cooperate with Li & Fung.
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