China may just be the next site of MGA Entertainment’s ongoing push for global domination with its LOL Surprise brand, having just secured a new licensing partnership with the country’s iQIYI.
Under this new agreement, iQIYI will target and manage third-party licensing for the LOL Surprise brand, while using its expertise in the online content space to grow the reach of the brand across the territory.
This marks the first time that LOL Surprise will benefit from a complete licensing programme in China.
“The deep knowledge and understanding that the iGIYI team possesses regarding the Chinese market is invaluable to further expanding LOL Surprise,” said Isaac Larian, CEO and founder of MGA Entertainment.
“With agents on the ground in China, who live and breathe the Chinese culture, we are confident that they will make incredible strides to strengthening the LOL Surprise brand.”
Wu Gang, vice president iGIYI, added: “We are delighted to partner with MGA Entertainment and become the company’s first and exclusive licensee in China to promote the world-renowned IP brand LOL Surprise.
“Since its launch in December 2016, LOL Surprise has become one of the world’s most popular toy brands. With iQIYI’s massive user base, our deep understanding of the China market, and our strong development capability of the full IP value chain, we are confident that we would bring the LOL Surprise brand to more children and families in China, and further promote its brand and development in the market.”