Leading Russian animation company Riki Group has signed a pact with Hong Kong-based Fun Union to set up a joint-venture company.
The pact will focus on the worldwide expansion of the “KikoRiki,” “BabyRiki,” and “PinCode” animated TV series, with China and other Asian countries as its immediate priority.
Diana Yurinova, VP, international business development and distribution at Riki Group, said: “China is a key territory for ‘KikoRiki’ business, which started its growth there in 2010. The joint venture will kickstart our brands expansion in China and globally.”
“ ‘KikoRiki,’ ‘BabyRiki,’ and ‘PinCode’ have proven popular and successful in Russia and the Commonwealth of Independent States,” said Christine Brendle, CEO of Fun Union. “These brands are not yet well-known abroad, which offers a unique opportunity for Fun Union to capture new markets.”
Fun Union’s investment will be channeled into the production of new episodes of “BabyRiki,” “PinCode,” and “KikoRiki,” as well as the international development of Riki’s IP, according to Ilya Popov, general producer at Riki Group.