Kolon FnC Expands Beyond Fashion with New IP Division

Kolon FnC is set to expand its business by focusing on intellectual property (IP).

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

The V Division will be led by Chief IP Officer Hwang Bo-sang. Hwang previously served as the head of the story business division at HYBE and founded the content production subsidiary Studio LICO, known for creating the webtoon "Volcano Return."

Through this restructuring, Kolon FnC aims to pursue a culturally expansive business model that differentiates itself from its traditional fashion operations. A company representative stated, "While the new business will originate from Kolon FnC's core fashion business, it 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 with artists based on intellectual property and trademarks developed by Kolon FnC. External IP will leverage existing intellectual properties, such as celebrities and characters, to create new brands.

Hwang emphasized, "A business based on fandom can expand beyond fashion into any field. The V Division will dedicate itself to building a core fan base."

In related 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%.