31/05/2023 (Seri Kembangan, Malaysia) - Intellectual property (IP) company Babo Panda, in collaboration with Kun Sheng Industrials, has signed a memorandum of understanding (MOU) with GUOANN.com, an online business platform based in Malaysia. This strategic alliance aims to foster collaboration between Babo Panda, Kun Sheng Industrials, and innovative Malaysian product manufacturers, utilizing Babo Panda's character licensing expertise and GUOANN.com's online platform for seamless connectivity.
Pic: From left Zou Yang Kun (Kun Sheng Industrials), Teoh Kok Ann (GUOANN.com), Andy Sze (Babo Panda) during the signing of MOU ceremony.
Babo Panda, known for licensing their popular character Babo Panda, intends to leverage on the widespread appeal and popularity of pandas in China. The company sees an opportunity to introduce Malaysian products to the Chinese market by capitalizing on the character's popularity. Andy Sze, Director of Babo Panda, stresses that the IP of Babo Panda has been around for over 20 years. The company's brand consultancy expertise and strategy has been refined and market tested in order to face China's extremely competitive market. “Our design is refined in order to ensure that the product stands out in such a market” stated Andy Sze. He insisted that with the help of his brand consultancy team and through leveraging the Babo Panda Intellectual Property, a manufacturer can ensure their product stands out amidst plethora of other products in the Chinese market.
Pic: Products from various brands depicting Babo Panda for each respective brand collaboration.
Highlighting the extensive network of physical business franchises and online platforms supporting their products, Zou Yang Kun noted partnerships with major retailers like AEON Mall (China Branch), Lianhua Supermarket, and Yonghui Superstore, in total comprising over 10,000 physical locations. Additionally, the utilization of popular Chinese online platforms, including Douyin, Taobao, and Tmall, further boosts sales, with access to nearly 500 online platforms and counting.
Pic: Kun Shang Industrials physical shops and online platform that assist Babo Panda
GUOANN.com, an established Malaysian online business platform, plays a crucial role in Babo Panda's strategy to source suitable Malaysian products. Leveraging their online platform, GUOANN.com aims to facilitate connections between Babo Panda and local manufacturers, enabling the export of Malaysian products to international markets. This collaboration not only benefits Babo Panda but also provides Malaysian businesses with an opportunity to capitalize on reduced tariffs under the Regional Comprehensive Economic Partnership (RCEP). Teoh Kok Ann, CEO and founder of GUOANN.com, emphasized that China is a huge and potential market to tap into for Malaysian products to expand globally.
Pic: A group picture from the MOU signing ceremony, the majority of those in the picture are also representatives from various Malaysia products manufacturers.
The collaboration between Babo Panda and GUOANN.com is expected to signifies a significant milestone in promoting Malaysian products. By combining character licensing expertise, an extensive online platform, and access to Chinese market channels, the collaboration is expected to pave the way for successful market penetration and increased trade opportunities between Malaysia and China.