Hello Kitty celebrates 50 years with a valuation surpassing $10 billion

Hello Kitty, created by Sanrio, recently reached a valuation of over ¥1 trillion (about $10 billion) as the brand celebrates its 50th anniversary. This milestone comes as Hello Kitty becomes the second highest-grossing media franchise globally, surpassing major franchises like Harry Potter. Sanrio has shifted its strategy to appeal to a broader audience, including adults, after facing a decline in the late 1980s. The brand's popularity has surged, aided by digital platforms and collaborations with various companies, enhancing its global presence. Sanrio plans to release a Hello Kitty movie in partnership with Warner Bros, which could diversify its revenue streams. The company has also appointed a younger CEO, Tomokuni Tsuji, who has implemented changes to revitalize the brand and improve sales.