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Live Company Group makes further inroads into China

Sooner or later, someone's going to come up with the idea of a Chinese wall made of Lego
Lion made of Lego bricks
Lego the lion

Live Company Group Plc (LON:LVCG) said a second permanent BRICKLIVE centre, based around fun with LEGO bricks, is to open in China.

Brick Live Centre Education Development (Beijing) Limited, a joint venture of which Live Company (LVCG) is a member, has agreed to open a BRICKLIVE centre in Shanghai in the autumn of this year.

WATCH: Live Company Group ‘run of its feet with interest’ and new launches

The first BRICKLIVE centre in China is scheduled to open next month in the ski resort of Fulong Chongli.

Having signed up two partners in China this year LVCG said it is planning to unveil up to three more later this year and then five more each year thereafter.

LVCG also revealed it has secured a five-year licensing deal with Cross Media Group of Seoul, South Korea, for the exclusive right to open and operate BRICKLIVE branded kids cafes in China.

Under the agreement, a minimum of five cafes will be launched in 2018, rising to 30 by the end of 2019 and 100 by the end of 2022.

Meanwhile, following LVCG’s successful show in New York in February of this year, the company has decided to launch the BRICKLIVE brand across the US and to discontinue the LEGO LIVE brand.

"BRICKLIVE is a global brand with an already firm foothold in 17 countries, so we are very excited to extend our reach further into the Far East with two permanent centres in China. A hugely important market for us, we're looking forward to further building our presence there via exhibitions and shows as well as BRICKLIVE events in coming years," said David Ciclitira, LVCG’s executive chairman.

Shares in LVCG rose 2.7% in the first hour of trading on Thursday.

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