According to the CEO and managing director of JKN Global Group, Jakkaphong “Anne” Jakrajutatip, the amount invested in the Thai company as a result of JKN Global Group’s acquisition of the Miss Universe Organization would reach 1.2 billion baht this year.
She added that JKN is in the midst of securing contracts to host the contest for the following two years while El Salvador is spending 400 million Thai Baht to host it this year.
In October of last year, JKN acquired the Miss Universe Organization from Endeavor Group.
According to Jakkaphong, JKN intends to leverage the Miss Universe brand to market its own consumer goods, starting with beverages that will go on sale in the first quarter of this year.
According to her, JKN intends to increase consumer direct sales via JKN18 channel, JKN Hi shopping, Omni Channel, and Social Commerce into the beverage, wellness, and beauty areas.
According to Jakkaphong, revenues will equal 4 billion baht this year.
By acquiring the rights to market international brands, JKN wants to establish itself as a leading content producer globally and dominate Asean.
“We’re currently selling the Miss Universe organization through JKN Global for broadcast costs, franchise fees, production expenses, and everything else. The JKN Universe or Miss Universe organization is how we enter the content market. That is a component of the blending,” Anne said.
Consumer products will make up the second segment. Many of them will bear the Miss Universe cosmetics, drinks, and skin care brands. Mineral water, collagen, and multivitamin beauty drinks are among the [Miss Universe] beverages. The Miss Universe brand or emblem will serve as the ecosystem’s leader, she continued.
JKN’s cash flow has increased as a result of the Miss Universe Organization’s success. As a result, the board of directors decided to reverse a decision reached on January 5 to sell an additional 1,019,917,296 shares in order to raise cash at a meeting on January 30.
Instead, it will sell 510,043,387 shares to current owners and restrict the number of new shares that current shareholders can purchase from three to two for each share they currently own. The stock
In a separate private placement, JKN will give 66,666,666 million new ordinary shares to Unistretch Co Ltd, a unit of the GP Group run by Nishita Shah. These shares will be issued at a price of 4.50 baht each.
The organization is JKN’s key ally in growing the Miss Universe Organization.
JKN made the decision to delay the rights offering and scale back due to the Miss Universe Organization’s anticipated higher-than-anticipated revenue this year.
According to Jakkaphong, the lower rights sale won’t have an impact on JKN’s expansion aspirations.