Live Company Group PLC (AIM:LVCG) (LVCG) has announced a junior sponsorship agreement with KIA, the South Korean motor company, for the upcoming Madrid K-POP event in July 2023.
The deal, valued at €25,000, also includes a commitment from KIA to purchase event tickets worth €18,315. KIA intends to leverage this sponsorship to enhance brand awareness and provide corporate entertainment for its guests.
While the agreement currently covers one event, discussions are underway for potential sponsorships of other events and the prospect of KIA becoming the title sponsor for next year's Madrid concert.
In a statement, LVCG chairman David Ciclitira expressed his delight at securing the sponsorship agreement with KIA, highlighting the iconic status of the South Korean brand. Ciclitira further emphasised the company's anticipation of building a stronger partnership with KIA in the future.
LVCG is a live events, entertainment and sports company that has been listed on AIM since 2017. The company operates through four divisions: BRICKLIVE, KPOP, StART Art Global (SAG), and Live Company Sports and Entertainment (LCSE).
Under the BRICKLIVE division, LVCG organizes partner-driven fan-based and touring shows featuring BRICKLIVE content worldwide. The company owns the rights to BRICKLIVE, an interactive experience centered around the world's most popular construction toy bricks. It is important to note that LVCG is an independent producer and not affiliated with the LEGO Group.
Additionally, LVCG holds the brand KPOP Lux and acts as the executive producer for KPOP Lux shows in Madrid and London, in collaboration with SBS, the Korean television network. LVCG also owns the rights to the K.Flex brand and serves as a partner and executive producer of K.Flex in Frankfurt.
SAG, another division of LVCG, owns StART Art Fair in London, a well-established event held at the Saatchi Gallery for the past nine years. The company has licensed the rights to the StART brand in Korea, enabling the creation and management of StART Art Fair Seoul and various StART+ exhibitions.
Lastly, LCSE, the sports and entertainment division of LVCG, oversees LCSE Pty in South Africa, which maintains a long-term relationship with Pick 'n' Pay and the Ocean Race. LVCG is also a founding shareholder in E-Movement, the promoter of the Formula E Race in Cape Town. Through its subsidiary E-Movement Holdings, LVCG has the right to sell sponsorships for the Formula E race in Cape Town.
LVCG's partnership with KIA for the Madrid K-POP event marks an exciting development for the company, with potential for further collaborations in the future.