Kingsmen Creatives has expanded its licensing agreement with toy giant Hasbro to open NERF family entertainment center (FEC) attractions to include the U.S. market, the Singapore-listed design and production group said Thursday.
In December, Kingsmen had announced its indirect wholly owned subsidiary, NAX Singapore, would open an 18,000 square-foot NERF-dedicated FEC in Singapore’s Marina Square Shopping Mall, with a launch date set for the second half of this year.
Expanding the deal for the U.S. market will allow Kingsmen to boost the attraction’s reach after the planned Singapore FEC met with “significant” international interest, Kingsmen said in a filing to SGX Thursday.
“NERF is a well-established brand that commands a global following and has a strong presence in the U.S. Its appeal as a popular lifestyle brand that encourages social and outdoor play is inter-generational,” Andrew Cheng, group CEO of Kingsmen, said in the statement.
“The opening of NERF FECs in the U.S. will redefine how fans can experience the brand as they find themselves immersed in exclusive NERF worlds,” he added.
Casey Collins, senior vice president and general manager for consumer products at Hasbro, said the announcement of the Singapore FEC has spurred interest in further locations globally.
“The work Kingsmen has done with the upcoming opening of the NERF Action Xperience in Singapore is outstanding, and we cannot wait for fans and families from all over the U.S. to have their own experience,” Collins said in the statement.
The latest deal will be via Kingsmen’s U.S.-based subsidiary Kingsmen Xperience, the company said.
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