His fans own copies of Rush Hour and Shanghai Noon, but now kung fu movie star Jackie Chan (
One of the world's most famous Chinese celebrities hopes to parlay movie superstardom into a merchandising and retail empire that encompasses everything from clothing to cookies.
The action star's expanding business portfolio includes a clothing label, Jackie's Kitchen restaurants, a sushi eatery chain, Jackie Chan signature club gyms and most recently, a line of chocolates and nutritional oatcakes.
Chan's ambition doesn't end there -- he aspires to be a Martha Stewart-like marketing juggernaut.
The actor's goal is "total lifestyle branding," said Bon Ng, the business executive Chan has charged with developing his brand.
"Our coverage will be wide," Ng said, noting Chan hopes to expand into furniture and kitchenware.
It's not Chan's first foray into business. Chan said he opened car repair shops, gyms, gift shops and restaurants 20 years ago, but they failed because he wasn't savvy enough in business.
"I thought since I could make movies, I tried business on my own. I didn't know how to calculate, how much things I bought cost, how much a month's rent cost ... I lost several million, then millions again," he told reporters at a celebration of the third anniversary of his clothing line. Now, Chan said he's hired professional businessmen to do the nitty-gritty work, while he makes strategic decisions.
The popularity of his products also coincides with the rise of his stardom. Chan cemented his international superstardom in the late 1990s with the Hollywood action comedy Rush Hour, costarring Chris Tucker.
He has now been on the US talk show circuit and appeared on the prestigious US comedy show Saturday Night Live. US cities have designated Jackie Chan Day. The Toronto and Los Angeles police departments have named him an honorary policeman.
Jackie Chan is such a potent symbol for Hong Kong that local tourism officials have asked him to promote the territory as a travel destination.
Now Chan is hoping his strong name recognition will translate into a successful, all-encompassing product lineup.
It's an approach known in business parlance as "brand extension." Companies venture into new areas of businesses by leveraging the credibility of their existing products.
"Many companies know the value of their brands doesn't just lie in their product categories," said University of Hong Kong business professor Bennett Yim.
But Yim said so far it's a controversial formula that hasn't been proven. He said one form of safe brand extension is to venture into complementary products, such as a shaver maker launching a shaving cream.
Chan seems to have avoided that strategy by eyeing a "lifestyle" brand -- although he has diversified his entertainment products, unveiling his own cartoon series that pits Chan against bad guys in a battle for 12 magic talismans.
But Chan is capitalizing on his wholesome, healthy image. Case in point is the "Jackie Chan signature club" gyms, a partnership with California Fitness, part of the US-based 24 Hour Fitness health club chain. The gyms will offer special Jackie Chan workout classes.
Another example is Chan's line of cookies for the health conscious. Chan says he may even open "Jackie Chan supermarkets" in the future. He claims consumers will naturally think that any food product that bears his name is healthy.
"You don't know what product to trust, but many of my audience and fans will trust me," he said.
Chan's products also highlight his Chinese heritage. Chan's Chinese stage name means "becoming a dragon." His clothing line's logo blends the Chinese character for "dragon" and "Jackie." Chinese calligraphy appears on his T-shirts and jeans.
Chan and his business executive, Ng, said they didn't know revenue figures offhand but said Chan's business ventures are growing.
Chan said "Jackie's Kitchen" has four outlets in South Korea and one in Hawaii, with an imminent launch in Australia. Talks are underway for another eatery in Las Vegas, he said.
Meanwhile, Chan's clothing label boasts 40 shops in mainland China and the label's children's line is available in US department stores, Ng said. Expansion plans will cover Singapore, Malaysia, Thailand, Taiwan and South Korea.
Ng said Chan is targeting young professionals between 25 and 35.
But for now, Chan says he still earns more money making movies and that remains his top priority, adding he donates his business profits to charities because it's icing on the cake.
"I feel guilty about that money ... But the money I make from jumping from the second floor, this hard-earned, blood-and-sweat money ... I'll save for myself," he said.
Semiconductor stocks on Friday took a beating after a grim profit warning from Idaho-based Micron Technology Inc sparked fresh worries about the US’ earnings power as the country is potentially heading for a recession. Despite a broader stock market rally, the Philadelphia Stock Exchange Semiconductor Index dropped 3.8 percent after Micron, the largest maker of memory semiconductors in the US, flagged that demand was cooling for chips used in computers and smartphones. The index — which is home to US chip giants Advanced Micro Devices Inc and Nvidia Corp, as well as Micron — is down 38 percent this year. Historically, semiconductor
WHOLLY OWNED SUBSIDIARY: Costco Wholesale said it expected the purchase of the remaining 45 percent stake to add 1 to 1.5 percent to its earnings per share US-based Costco Wholesale Corp on Thursday said that it had purchased the remaining 45 percent stake in Costco President Taiwan Inc (台灣好市多) for US$1.05 billion, making the local company a fully-owned unit. “We estimate that the purchase would add about 1 to 1.5 percent to [our] earnings per share,” Costco said in a statement. Costco President Taiwan was established as a joint venture with Kaohsiung-based President Group (大統集團), which held a 45 percent stake. Since the first Costco store opened in Kaohsiung in 1997, 14 outlets have been set up in Taiwan, company data showed. PROFITABLE Three Costco stores in Taiwan — in Taipei’s Neihu
MOBILITY SOLUTIONS: Tata Technologies’ participation marks more progress in Hon Hai’s efforts to expand its ecosystem through the platform, the Taiwanese firm said India’s Tata Technologies Ltd has become the latest member of Hon Hai Precision Industry Co’s (鴻海精密) MIH Open Platform to jointly develop sustainable mobility solutions for customers worldwide, the Taiwanese company said yesterday. It might include embedded and electrical, electric platform development and battery management system solutions, among others, Hon Hai said. Tata Technologies’ participation marks more progress in Hon Hai’s efforts to expand its electric-vehicle (EV) ecosystem through the MIH platform, it said. The open platform has about 2,380 members around the world, with an aim to jointly develop EV ecosystems and shrink the time to market for products. Hon Hai made the
SOARING PROFITS: Semiconductors and shipping have knocked automaking and construction out of the 10 highest paying industries, stock exchange data showed Mobile phone chip designer MediaTek Inc (聯發科) posted an average of NT$5.15 million (US$173,249) in annual compensation for non-managerial employees last year, marking the highest among all firms listed on the Taiwan Stock Exchange (TWSE), exchange data showed. That is a 66 percent increase from the company’s average compensation of NT$3.08 million in 2020, as its earnings per share (EPS) expanded from NT$26.01 in 2020 to NT$70.56 last year. That is also three times higher than the average compensation of NT$1.7 million in the nation’s semiconductor industry, the data showed. The increases helped MediaTek advance its ranking from third in 2020, replacing