Star Plus Legend banks on the founder's pop-star son, Jay Chou, hawking 'bulletproof' coffee. But Beijing's crackdown on celebrity influence threatens $57 mln of revenue. Using consumers as a sales force raises another red flag, says mak_robyn
Star Plus Legend on March 31 disclosed plans for an initial public offering in Hong Kong.
The company is best known for its Modong brand of so-called bulletproof coffee in China, which it describes as a"high-fat and adequate-protein beverage specially designed for [a] low-carbohydrate diet plan". Modong coffee is primarily made from freeze-dried coffee, butter and other oils. Star Plus Legend has a cooperation agreement with Taiwanese pop star Jay Chou and his management companies to use the singer's intellectual property for marketing and promotion. Chou's mother, Yeh Hui-Mei, is a co-founder and controlling shareholder of Star Plus Legend.CMBC International Capital is the sole sponsor for the IPO.Taiwan singer Jay Chou performs during a concert in Singapore January 18, 2008.
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