Falcon’s Beyond Global, a fully integrated development enterprise for IP-driven parks, resorts, media and merchandise, has announced the first project in its new partnership with Raging Power Limited.
Raging Power Limited is an arm of K11 Group, the Hong Kong-based cultural commerce giant. Together, these two leaders in the entertainment and retail industries will work to create and introduce new entertainment franchises and location-based entertainment (LBE) attractions across China.
Driving international growth
The new global partnership comes ahead of Falcon’s Beyond Global (Falcon’s) planned Nasdaq listing. The collaboration improves the company’s position in the second-largest economic market in the world and expedites the Orlando-based company’s international growth.
The collaboration cements K11 Group’s position as one of the world’s leading providers of retail entertainment experiences while supplying them with co-ownership of compelling IP to launch through LBEs and other outlets such as entertainment and consumer products across China.
Cecil D. Magpuri, CEO of Falcon’s Beyond, comments: “As a global giant who shares our mission to develop state-of-the-art, game-changing consumer entertainment experiences, K11 Group is an ideal partner for Falcon’s as we continue our international growth, particularly across Asia, by expanding popular franchises across the world.
“Firmly established in the United States, Europe, and the Caribbean, we now have our sights set on China, the world’s second largest consumer market, as we continue to grow our company and bring innovative consumer experiences to people around the world.”
Falcon’s partnership with K11 Group strengthens its established reputation in China. It supports its investment in international growth by increasing the company’s presence in Asia, where it recently established a flagship office in the Philippines.
Falcon’s has created a variety of consumer entertainment attractions for clients in Asia over the past 20 years, which include some of the world’s most renowned brands. For the first time, the organisation is developing immersive experiences based on new proprietary IP through its partnership with K11 Group.
Vquarium aquatic adventure experience
Falcon’s first new attraction experience in the partnership is the aquatic-adventure-themed Vquarium.
Vquarium is a story-driven interactive adventure which explores oceans and waterways around the world. Intimate and empowering encounters with virtual sea creatures will take place in a sci-fi-like environment that is inspired by nature. An awe-inspiring narrative is designed to entertain, educate, and inspire.
Vquarium will begin with an interactive attraction that will launch the visitors’ immersive undersea adventure. The attraction will be a multi-room, multi-level experience with retail and refreshments available.
The first Vquarium immersive LBE is set to debut in 2025 at K11 Group’s highly anticipated 11 SKIES retailtainment attraction. Falcon’s and K11 Group’s first collaboration follows nearly twenty years of Falcon’s work in China.
11 SKIES is expected to be Hong Kong’s biggest retailtainment landmark, with a total gross floor area of 3.8 million square feet (353 thousand square metres), 800 shops including 120 dining concepts, the largest indoor entertainment hub with eight leading attractions, and three office towers offering professional services such as wealth management and health care.
The HK$20bn project, located between Hong Kong International Airport and the Hong Kong-Zhuhai-Macao Bridge connecting to the Greater Bay Area, is anticipated to attract Hong Kong residents, visitors from the rest of China, and travellers journeying through the airport.
Following its premiere at 11 SKIES, Vquarium is set to open in almost a dozen other locations within China in future years. Falcon aims that Vquarium will also be launched in other high-profile areas outside of Asia.
Falcon’s anticipates that as part of the joint venture, the Vquarium experience will develop beyond LBEs, to include all forms of entertainment, including media content, video games, and consumer products. The company’s objective and purpose, to drive franchise activations simultaneously across physical and digital experiences, are fundamental to this IP expansion approach.
Falcon’s to list on Nasdaq
The development of the Vquarium franchise follows the rapid growth of Falcon’s first worldwide franchise, Katmandu, which began at Katmandu Park in Mallorca. Now, the firm has created a second park in the Dominican Republic, Katmandu Park | Punta Cana, and has expanded the IP to consumer products and gaming, as well as developing an animated series.
Falcon’s Beyond announced last year that it would become a publicly traded company via a final merger agreement with FAST Acquisition Corp. II (NYSE: FZT), a special purpose acquisition company established by Doug Jacob and led by Sandy Beall (“FAST II”). Following the transaction’s completion, the new combined firm will be known as “Falcon’s Beyond Global, Inc.” and will be listed on Nasdaq under the ticker symbol “FBYD.”
Falcon’s Beyond Global announced in August that is has appointed Toni Caracciolo as its new executive vice president of marketing and branding.
