Sanrio: Hello Kitty's Licensing Empire Looks Fully Priced
2025-06-25 04:38:33 ET
Introduction
Sanrio ([[SNROF]] / 8136.T), best known for Hello Kitty, isn’t really a toymaker anymore. That’s still what most people think, but in reality, the business now runs more like a global character licensing house than a traditional goods manufacturer. They still sell their own stuff, sure, but more and more of the money is coming from high-margin royalty streams — merch, media, digital collabs, mobile games, all tied to their growing roster of characters. FY2024 marked the second straight year of record earnings, thanks to a mix of character anniversary tailwinds, a reopened Japan, and just solid execution....
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Sanrio: Hello Kitty's Licensing Empire Looks Fully Priced
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