Kolon FnC Expands Beyond Fashion with New IP Division

Kolon FnC, a division of Kolon Industries, is set to expand its business by focusing on intellectual property (IP).

On June 16, Kolon FnC announced the reorganization of its V Division into an independent corporate entity dedicated to new IP ventures. This restructuring separates the existing operations of Kolon Mall, allowing the V Division to concentrate on its new business initiatives.

The V Division will be led by Chief Intellectual Property Officer (CIPO) Hwang Bo-sang. Hwang previously served as the head of the story business division at HYBE and founded Studio LICO, a subsidiary of Naver Webtoon known for producing content such as the webtoon "Volcano Return."

Kolon FnC aims to differentiate its cultural expansion business from its traditional fashion operations through this reorganization. A company representative stated, "The new business will start from Kolon FnC's core fashion operations but will focus on expanding into lifestyle and cultural content overall."

The new initiatives will revolve around both original and external IP. Original IP will involve launching brands and collaborations based on intellectual property and trademarks developed by Kolon FnC. External IP will leverage existing intellectual properties, including celebrities and characters, to create new brands.

Hwang emphasized, "A business based on fandom can expand beyond fashion into any field," adding that the V Division will focus on building a core fan base.

In related financial news, Kolon FnC reported a revenue of 1.1647 trillion won last year, a 3.9% decrease from the previous year. During the same period, operating profit fell from 16.3 billion won to 3 billion won, a decline of 81.7%.