- FF Has Received the Initial $250,000 Annual Base License Fee from Grow Fandor
- Grow Fandor to Pay FF Royalties, the Greater of: (a) 50% of Annual Net Profit from Brand Ecosystem Products or (b) 5% of Net Sales Revenue, Payable Quarterly
- Exclusive Licensing Rights Granted to Grow Fandor for FF and FX Brands Globally
- A dedicated subsidiary has been established to manage the ecosystem product business for FF
LOS ANGELES, Nov. 14, 2024 (GLOBE NEWSWIRE) -- Grow Fandor, the pioneering global IP commercialization company, yesterday announced an exclusive strategic licensing agreement with Faraday Future (FF), a leader in the global shared intelligent electric mobility ecosystem. This partnership grants Grow Fandor exclusive worldwide rights to use the FF and Faraday X (FX) brands across various product categories, including apparel, automotive accessories, home goods, and personal care products. Grow Fandor has fulfilled its initial payment of a $250,000 annual base license fee to FF.
Grow Fandor commits to remitting to FF the greater of (a) 50% of annual net profits from branded ecosystem products or (b) 5% of net sales revenue from all relevant brand ecosystem products, with payments made quarterly. The higher amount will be recognized as the royalty fee for that contract year. As the sole authorized licensee, Grow Fandor will comprehensively manage all aspects related to these products, from design and R&D to supply chain management, sales, and after-sales services.
A subsidiary dedicated to managing FF’s ecosystem product business has been established, marking a significant step in operationalizing the strategic partnership. This subsidiary will drive the future business and development of FF’s ecosystem products. In support of expanding global market reach for Chinese products, Grow Fandor is initiating a worldwide talent search for livestream hosts, aiming to enhance interactive customer engagement and digital sales platforms.
YT Jia, founding partner and primary IP of Grow Fandor, stated, “Commercializing ecosystem products is a core business for Grow Fandor. By leveraging our commercial IP matrix of top global entrepreneurs and celebrities, we aim to maximize the brand value of FF and FX, creating powerful synergies that foster co-creation and mutual success.”
This collaboration is a cornerstone initiative for Grow Fandor and marks the first major strategic expansion since its inception. It provides Grow Fandor access to FF and FX's globally influential and high-potential ecosystem products and brand IPs, significantly enhancing the company’s business and product lines while expanding global market opportunities.
With profound respect for the FF brand, combined with robust innovative capabilities and a global top-tier IP matrix, Grow Fandor is uniquely positioned to market and distribute FF ecosystem products. Additionally, the influence of founder YT Jia, renowned as a top Chinese entrepreneurial IP, is expected to catalyze significant revenue growth and support FF's core operations while expediting his debt repayments.
This strategic collaboration is anticipated to be a vital method for FF to efficiently generate positive cash flow and further enhance the global reputation and influence of the FF and FX brands, positioning ecosystem products as a crucial revenue stream for many brands, especially in the luxury automotive sector.
Previously, YT Jia transferred nearly 60% of his Grow Fandor shareholdings to FF, making FF a significant shareholder with a 10% stake. Moreover, 50% of his future earnings from Grow Fandor will be invested back into FF, with the remainder directed towards settling debts in China.
Grow Fandor is set to become the first US-listed global IP commercialization company. The exclusive global authorization from FF is a key business milestone, enhancing cash flow support for FF while propelling Grow Fandor’s strategic ambitions forward. The company plans to use its geographical and resource advantages, along with the deep-rooted presence of YT Jia and FF in North America, to build a bilateral industrial bridge between China and the US, facilitating resource sharing and empowering both businesses and individuals with high-quality products and services.
This comprehensive strategic collaboration underscores Grow Fandor's commitment to fostering global economic development and innovation, empowering entrepreneurs and professionals worldwide to thrive in their endeavors.
About Grow Fandor
Grow Fandor is a global pioneering IP commercialization company that leverages a business IP matrix of top entrepreneurs and celebrities to transform content and commerce across industries. Founded by YT Jia and partners, this venture merges robust technological platforms with high-quality international supply chains to innovate in video and live-stream e-commerce, brand derivative commercialization, and knowledge empowerment. With a strategic emphasis on bridging market gaps between China and the U.S., Grow Fandor not only aims to introduce advanced business models and premium international products across borders but also fosters cross-cultural business growth and collaboration. Its mission is to empower driven individuals and visionary entrepreneurs with tools that enhance their professional and personal lives, thereby contributing to global economic development and innovation.
About Faraday Future
Faraday Future is the pioneer of the Ultimate AI TechLuxury ultra spire market in the intelligent EV era, and the disruptor of the traditional ultra-luxury car civilization epitomized by Ferrari and Maybach. FF is not just an EV Company, but also a software-driven intelligent internet Company. Ultimately FF aims to become a User Company by offering a shared intelligent mobility ecosystem. FF remains dedicated to advancing electric vehicle technology to meet the evolving needs and preferences of users worldwide, driven by the pursuit of intelligent and AI-driven mobility.
Contact
Media: pr@growfandor.com
