Superstar Jay Chou’s Mom Plans Bulletproof Coffee Brand IPO
(Bloomberg) -- Taiwanese pop superstar Jay Chou's mother is planning an initial public offering of the top Chinese bulletproof coffee brand.
Star Plus Legend Holdings Ltd., which sells the “Modong” line of beverages, has filed a listing application with the Hong Kong stock exchange. CMBC International Capital Ltd. is sole sponsor of the planned offering, according to documents posted on the bourse's website late Thursday.
The company is China's largest maker of bulletproof coffee with a 40.6% market share in 2020, its preliminary prospectus shows. The high-fat drink, made with imported grass-fed butter and coconut oil, has become a fad amid the rising popularity of low-carb diets.
Star Plus is expanding into new areas including flavored water, skincare and women's health products, according to the pre-listing documents. It's also sought to leverage its celebrity-related intellectual property by creating virtual online characters based off real-life stars, helping plan concerts in China and launching a reality TV show starring Chou.
The company's business was started in 2017 by Yeh Hui-Mei, the singer's mother, and partners including representatives of his artiste management agency. Star Plus's pre-IPO investors include Simon Ho, the chief financial officer of venture capital firm IDG Capital. It's also appointed award-winning songwriter Vincent Fang as its chief cultural officer.
Chou shot to fame at the turn of the century, with chart-topping records filled with poetic love ballads and R&B rhythms that made him a sensation across Asia. He became known for his distinctive singing style and melodies that blended Western pop music with traditional Chinese instruments.
The musician later embarked on an acting career, landing roles in films including the Chinese epic “Curse of the Golden Flower” and Hollywood superhero flick “The Green Hornet.”
“J-Style Trip”, a reality show focused on Chou and his friends, appeared in 2020 on Netflix as well as Zhejiang Satellite TV and MGTV. Star Plus was the lead creator of the series, which prominently featured “Modong” coffee, the documents show.
©2022 Bloomberg L.P.
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