The latest owner of Miss Universe plans to construct a makeup and lingerie empire across Asia, searching for to tap into the pageant’s regional fandom at the same time as interest within the event wanes in other parts of the world.
JKN Global Group, the Thai company that bought the Miss Universe organization this week for $20 million, will initially rebrand products it already produces as themed merchandise, said CEO Jakaphong Jakrajutatip.
She said the corporate plans to launch its latest vitamin water line in Thailand early next yr, after which potentially expand to Malaysia and Indonesia.
According to Jakaphong, who can be generally known as Thailand’s first transgender CEO, other products being considered include underwear, cosmetics and perfumes.
She said the corporate, which currently makes just about all of its revenue from broadcast rights, would also offer other corporations the proper to make use of the Miss Universe brand on consumer goods, in addition to enable joint ventures for themed private jets and hotels.
Jakaphong’s goal is for Miss Universe to generate revenue of 1.2 billion baht ($32 million) by 2025, driven mainly by emerging economies in Asia where beauty pageants are popular.
“For them, it is an aspiration to a better life, representing their fantasy, the prestige of a luxurious lifestyle,” the 43-year-old said in an interview on Thursday.
Meet Anne Jakkaphong Jakrajutatip, the trans icon who bought Miss Universe
Meet Anne Jakkaphong Jakrajutatip, the trans icon who bought Miss Universe
Investors supported the plan, and JKN shares surged 47% following news of the acquisition. Although they fell about 8 percent on Friday, the corporate’s shares are still on the right track for his or her biggest weekly gain in nearly five years.
Aside from the business side, Jakaphong’s purchase of Miss Universe comes amid declining U.S. viewership in addition to scrutiny of the pageant, which critics say focuses on the outdated appearance of girls, especially the part where contestants wear swimsuits.
The pageant also has historical ties to former President Donald Trump, who owned it from 1996 to 2015.
The competition is planned to have a greater concentrate on “transformational leadership,” she said, adding that more details will probably be announced closer to the following competition scheduled for January in New Orleans.
Jakaphong pointed to her own experiences with discrimination and sexual harassment from a teacher as her primary motivation to offer a more inclusive show.
Progress has been slow previously. Miss Universe lifted its ban on transgender contestants in 2012, although just one transgender contestant emerged, which is able to allow moms and married women to compete next yr.
After returning to Thailand, Jakaphong desires to concentrate on advocating for changes in laws that might allow people to legally change their gender.
Although the majority-Buddhist country has taken steps to permit same-sex marriage, the House of Representatives has not moved to legalize or recognize gay marriage.
It can be considering including segments highlighting LGBTQ rights in Miss Universe programming. “Because of my leadership, people will better understand LGBTQ,” she said. “It would be a shame if I didn’t do anything with such a global platform.”
