Kidzania’s Xavier Lopez believes in the power of doing things together

This boss likes to get everybody involved

Nov 09,2013, LEE JUSSARANG AND MOON GWANG-LIP [joe@joongang.co.kr]

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Xavier Lopez, CEO of KidZania, a Mexican chain of family entertainment centers, believes in the power of doing things together.
In recent years, he took on challenges such as quitting smoking or losing weight through annual corporate campaigns. This year, he entered the New York City Marathon, together with his employees. He finished the marathon. Twenty-seven Mexican employees and Jin Hyun-sook, the head of the Korean branch, ran with him. Doing things together makes it easier to realize a goal, he said. It’s also fun – a theme KidZania has thrived on for the past 15 years. Using an indoor-themed park setting, KidZania has provided children with places and tools to play. Launched in Mexico in 1999, the company has gone global, with 15 branches in 12 countries. Mexico has three branches including the headquarters in Santa Fe. Japan has two branches and Korea has one at Jamsil, southern Seoul.
The idea for the company came from a friend of Lopez. The friend, who was working in the private equity sector of General Electric, suggested they build a day care center for children.
He didn’t like the idea that much, but one thing his friend said clicked, which was to provide children with an environment in which they could do role-playing games. It struck him that all children love role-playing games and that there was nothing that helped realize a child’s dream to be a firefighter so immediately as by putting them in a firefighting costume. The idea developed, and the outcome was KidZania.
At the centers, children can experience various types of jobs, play with tools related to the jobs and wear the respective costumes. They can also take part in economic activities with KidZania currencies, with which they can make purchases and create bank accounts.
Success was immediate, Lopez said. In the year the company was founded, 400,000 people visited the centers. That number doubled a year later. The company, which has about 7,000 worldwide employees and 650 corporate partners, expects to have $7 million in earnings this year.
Lopez said he feels good about the success but stressed his business is not just geared toward making money. He said helping the community with educational opportunities for children is another pillar for his business.
He added that he feels rewarded when he sees that the children who visited KidZania more than a decade ago are returning there with their own children.
He said children in Korea and Japan are distinctive in that they are more interested in making money than spending it. He visited the branches of two Asian countries and saw few children in the shopping areas. Instead, the children were eager to have vocational experiences. He said it was good to see that Korean children in particular were serious about their activities.

Unknown's avatarAbout bambooinnovator
Kee Koon Boon (“KB”) is the co-founder and director of HERO Investment Management which provides specialized fund management and investment advisory services to the ARCHEA Asia HERO Innovators Fund (www.heroinnovator.com), the only Asian SMID-cap tech-focused fund in the industry. KB is an internationally featured investor rooted in the principles of value investing for over a decade as a fund manager and analyst in the Asian capital markets who started his career at a boutique hedge fund in Singapore where he was with the firm since 2002 and was also part of the core investment committee in significantly outperforming the index in the 10-year-plus-old flagship Asian fund. He was also the portfolio manager for Asia-Pacific equities at Korea’s largest mutual fund company. Prior to setting up the H.E.R.O. Innovators Fund, KB was the Chief Investment Officer & CEO of a Singapore Registered Fund Management Company (RFMC) where he is responsible for listed Asian equity investments. KB had taught accounting at the Singapore Management University (SMU) as a faculty member and also pioneered the 15-week course on Accounting Fraud in Asia as an official module at SMU. KB remains grateful and honored to be invited by Singapore’s financial regulator Monetary Authority of Singapore (MAS) to present to their top management team about implementing a world’s first fact-based forward-looking fraud detection framework to bring about benefits for the capital markets in Singapore and for the public and investment community. KB also served the community in sharing his insights in writing articles about value investing and corporate governance in the media that include Business Times, Straits Times, Jakarta Post, Manual of Ideas, Investopedia, TedXWallStreet. He had also presented in top investment, banking and finance conferences in America, Italy, Sydney, Cape Town, HK, China. He has trained CEOs, entrepreneurs, CFOs, management executives in business strategy & business model innovation in Singapore, HK and China.

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