A Superhero Story
The PEAK Singapore|October 2021
Ben Ang turned his love for comics into a multimillion-dollar business. However, it wasn’t easy.
FARHAN SHAH
A Superhero Story

The XM Studios office at Bras Basah Complex is a mecca for toy collectors. The shelves are strewn with collectibles from different universes. There’s a 45kg figurine of Iron Man emerging from a Hulkbuster. Close by, a similarly-sized Hulk stares angrily into the distance. On another shelf, the Ghost Rider is ready to speed off.

In the middle of it all sits Ben Ang, the self-taught entrepreneur and artist who dropped out of school as a teenager, ran a loss-making comic book store in Chinatown and rolled the dice by taking over Xenomorph, which sold collectible toys. Ang and his brother ploughed the latter’s school fees into a month’s rent for the store. Although it was a massive struggle at first, Ang came up with the idea of producing high-quality luxury licensed figurines.

Their big break came in 2013 when Disney granted the newly-renamed XM Studios a one-year licence to build Marvel figurines. A year later, its sixth figurine, the X-men villain Magneto, became an overnight success. It’s considered a holy grail among collectors today.

Ang built on that win. Last year, the premium collectible figurine company made $16.9 million in revenue. The profit after deducting tax and costs was a handsome $4.2 million. The company also currently holds intellectual property licences that include Disney, Warner Bros. Consumer Products and Hasbro.

The Peak chats with Ang about the success of his company and the challenges he faced.

This story is from the October 2021 edition of The PEAK Singapore.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.

This story is from the October 2021 edition of The PEAK Singapore.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.

MORE STORIES FROM THE PEAK SINGAPOREView All
Shaping Healthy Confectioneries Through Science-Backed Innovation
The PEAK Singapore

Shaping Healthy Confectioneries Through Science-Backed Innovation

At a time when health-conscious consumers are questioning the norms of processed foods, Glico tells us why it stands firm in its confidence.

time-read
2 mins  |
March 2024
The Home Advantage
The PEAK Singapore

The Home Advantage

This AI-dependent reno-tech platform is cutting out the middleman for interior designing and, recently, its financing.

time-read
3 mins  |
March 2024
Financing Art
The PEAK Singapore

Financing Art

UOB, UBS, OCBC, and Bank of America are some financial institutions involved heavily in today's art world. Why is this the case?

time-read
4 mins  |
March 2024
Airing New Possibilities
The PEAK Singapore

Airing New Possibilities

Acclaimed chefs Matthew Orlando and Will Goldfarb hope to inspire and spark deeper conversations and action around food and circular cooking at their idyllic concept Air in lush Dempsey Hill.

time-read
4 mins  |
March 2024
Taking Initiative
The PEAK Singapore

Taking Initiative

Nicole Robinson, andbeyond's chief marketing officer, shares how the luxury safari operator is accelerating its ground partnerships in a race against time to save the planet's remaining wilderness.

time-read
4 mins  |
March 2024
Tropical Modernism
The PEAK Singapore

Tropical Modernism

In this three-storey inter-terrace belonging to a family of four, designer Ethan Lin of TE-EL sought to create a cosy nest that marries the disparate tastes of its owners.

time-read
4 mins  |
March 2024
A Symphony of Vintage
The PEAK Singapore

A Symphony of Vintage

Antoine Bakhache, founder of Bakhache Jewellery, shares the story behind the brand's inception, its curated vintage collections, and the journey ahead.

time-read
3 mins  |
March 2024
Time is of the Ressence
The PEAK Singapore

Time is of the Ressence

Time is of the Ressence Independent watch brand founder Benoit Mintiens on creating unique timepieces by focusing on the user experience.

time-read
3 mins  |
March 2024
A Timeless Impact
The PEAK Singapore

A Timeless Impact

The Rolex Awards for Enterprise celebrate innovators like Denica Riadini-Flesch, whose work at SukkhaCitta focuses on ethical craftsmanship.

time-read
2 mins  |
March 2024
In the Right Gear
The PEAK Singapore

In the Right Gear

The Richard Mille RM 35-03 Automatic Rafael Nadal lets users adapt the watch’s self-winding mechanism for their activities.

time-read
2 mins  |
March 2024