"Despite selling Step Distinctive Limited to Rich Sparkle, Lame will remain as the controlling shareholder of the company. "This is not just an equity acquisition, but a revolution in the global content e-commerce model," Rich Sparkle said in a statement. The content creator also signed on for an AI likeness of himself to take shape, allowing more of his multilingual content to be shared on the global stage."
"Khaby Lame is already the most-followed person on TikTok, with over 160 million followers and counting. Now he's stepping out as one of the world's foremost individual brands after finalizing a $900 million deal with U.S.-based company Rich Sparkle Holdings. The acquisition and strategic partnership deal gives Rich Sparkle exclusive rights to Lame's brand, according to Business Insider Africa. Lame, who grew his business portfolio from reaction videos on the popular social network into a global brand."
Khaby Lame finalized a $900 million acquisition and strategic partnership with U.S.-based Rich Sparkle Holdings, granting the company exclusive commercial rights to his brand for an initial 36-month period. Lame grew from making reaction videos into a global brand and launched Step Distinctive Limited to manage merchandise, partnerships, e-commerce, and digital campaigns. Rich Sparkle plans to integrate Lame's cross-platform audience of over 360 million into full-chain operations spanning manufacturing, logistics, and storefronts, projecting up to $4 billion in annual sales. Lame will develop an AI likeness and appear in beauty, fragrance, and apparel campaigns while retaining controlling ownership.
Read at TheGrio
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