Reuters, YG “Lays plans to crack China’s fashion & entertainment market”
[텐아시아 = 권석정 기자] Reuters unveiled on Sept 12 (local date) the interview with YG Entertainment’s Executive Producer YANG HYUN SUK.
It wrote, “With big businesses like LVMH and Samsung for back-up, the South Korean music impresario who unleashed rapper PSY on the world in 2012 is laying plans to crack China’s fashion and entertainment market – K-Pop style.”
YANG commented, “Korean pop culture’s broad appeal in the region can give YG an edge in the Asian market, and especially China.” Reuters added, “With up to $80 million in investment lined up from French luxury giant LVMH’s private equity arm, YANG’s plans stretch well beyond the music business.”
“We’re only at the starting point, but in areas YG will expand into from now – like in fashion or cosmetics – I think we might become strategic partners that can win-win in a big way,” YANG said.
The article read, “At 43, former boy band member YANG’s agency produces and manages K-pop acts like boy band BIGBANG and girl group 2NE1, as well as PSY, that are gaining global influence in pop culture around the world. All three acts will feature in a showcase concert at a Beijing soccer stadium next month, sponsored by tech giant Samsung Electronics Co,.” and added, “YG artists are seen as having especially distinctive styling among K-Pop artists. BIGBANG singer G-DRAGON and 2NE1 member CL are among those building fashion icon status, appearing as front-row guests for designers’ catwalk shows in New York and Paris.”
“Among the large K-Pop management firms, including S.M. Entertainment and JYP Entertainment, YG has been the most active in diversifying beyond music. It already plans a push into cosmetics with China’s Huanya Group and local makeup manufacturer Coson Co Ltd.”
YG recently launched a global brand NONAGON with Cheil Mojik based on street culture, or hip-hop. It targets young consumers and all eyes are on YG to see if they can sharpen their competitive edge in different areas like fashion and cosmetics.
2014. 9. 13.
