The deal was sealed back then to construct an FEC in Is now trying its hand at IP ownership by acquiring the NERF AX IP from HasbroД«ack in February 2018. The model was effective in drawing crowds due to the strong branding associated with the attractions, and Cityneon could collect various fees from each operator in turn. Subsequently, the group constructed travelling sets that were toured in major cities around the world. Intellectual Property (IP) and building a permanent set in Las Vegas. The example of Cityneon evolving its business into an IP-driven one has been well-documented, as it started out by taking on the Avengers S.T.A.T.I.O.N. Into the IP business: an evolution, not a revolution Kingsmen, being a вЂmere contractorвЂ™, will find it tough to earn superior margins amid a crop of smaller local contractors vying for business and undercutting the group in the mid-market, fast fashion brands space. This is a reference to the comic local contractor character played by actor Gurmit Singh that ran for a few seasons on local TV. Source: Kingsmen CreativesД¬ityneonвЂ™s CEO Ron Tan has described the events and exhibition businessвЂ™ Big Three as вЂњPhua Chu Kang (PCK)вЂќ, representing Pico Far East Holdings Limited, Cityneon and Kingsmen Creatives. The group was undercut on pricing and as a result, suffered from significantly poorer gross and net margins.ДЄs Retail and Corporate Interiors division takes up nearly 46% of total revenue, this has had an adverse impact on the companyвЂ™s profitability.

As a result, KingsmenвЂ™s Interiors division had to shift its attention to the mid-market, affordable luxury segment where there was competition from many smaller contractors. The key reason for this was due to the high-end, luxury brands changing their strategy of rapid expansion, as they chose large, flagship stores instead of opening multiple stores in different locations within Asia. Kingsmen has traditionally been able to command a net profit margin of between 5% to 7% during its heydays but has seen net margin collapse to a low of 2.3% in FY 2018. When I plotted the gross and net margins for the group, a clear trend can be seen вЂ“ that of declining net margins. In fact, net profit more than halved from a high of S$19 million in FY 2015 to just S$8.1 million in FY 2018. As can be seen in the graph above, revenue has been relatively steady and FY 2018 even saw it hit a 5-year high, but the gross profit has been stagnant while net profit has been on a steady decline since FY 2015. Kingsmen has been facing challenges to its Interior Fit-Out business in the last few years. More recently, the group was involved in the conceptualisation of the Bicentennial Experience held at Fort Canning Park and was also involved the set-up of the Christmas decorations for 2018. The group counts major brands such as Coach,ДЇendi, Ralph Lauren and Tiffany and Co as its clients, and has also doneДЇabrication and installation work for theme parks such as Universal Studios

Kingsmen Creatives started out in 1976 as anД®vents and exhibitions company that also dealt with interior fit-outs for

LetвЂ™s dig a little deeper and find out more about the company thatвЂ™s behind NERF AX is a family entertainment centre (FEC) concept that was co-conceptualised, developed and constructed by Kingsmen Creatives Limited in partnership with Hasbro. For those who are unfamiliar with the brand, NERF is one of Hasbro IncвЂ™s best-selling toy brands. Some of you may have noticed a spanking new attraction that just opened at Marina Square mall, that of NERF Action Xperience (NERF AX).

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