F&F(383220) said on the 13th that it will acquire the global trademark rights and related IP (intellectual property) of Discovery Expedition from Discovery Communications in the United States. The acquisition price is $80 million (about 114 billion won).
Since its debut in Korea in 2012, Discovery Expedition has grown by pioneering the lifestyle outdoor market. It later expanded its business to Asian markets, including China, and with this global IP acquisition, it has secured a foundation to broaden its business scope to the global market.
F&F plans to make the next growth step for Discovery Expedition by strengthening the lifestyle functionality of its products while expanding the brand's domain from the existing lifestyle outdoor to "active wellness." The company aims to develop it into a high-performance lifestyle wear brand usable across everyday life.
F&F will fully expand Discovery Expedition's global business by leveraging the brand management experience it has built in Asian markets, including Korea and China. It plans to differentiate products, marketing, and retail strategies to match consumer characteristics in each country and region and to enhance brand competitiveness.
Kim Chang-su, F&F chairman, said, "'Discovery' is the word that best captures human curiosity and the spirit of challenge that have driven humanity's progress so far," adding, "I believe it will remain the most influential word for the meaning and advancement of humans even in the AI era."
He added, "Discovery Expedition will continue to be a brand that can have a major impact on human life in the future, and I believe it is very meaningful and valuable to grow a brand that embodies such values into the global market."