Spin Master strengthens its strategic partnership with Alibaba
TORONTO, Aug. 28, 2017 /PRNewswire/ - Spin Master Corp. (TSX:TOY; www.spinmaster.com), a leading global children's entertainment company, recently announced the launch of award-winning, and globally recognized brands Hatchimals® and Paw Patrol® in China, the world's second largest toy market. Spin Master further demonstrated its commitment to the company's international growth strategy by strengthening its strategic partnership with Alibaba, one of the largest retailers in the world.
Spin Master's Global President and COO Ben Gadbois and several Spin Master executives recently traveled to Shanghai to meet with teams from Alibaba and its online marketplace Tmall. The two teams announced a continued collaboration to further expand the Spin Master brand portfolio in China after leading with a core group of products, including PAW Patrol, Hatchimals, Bunchems and Sew Cool.
"We were delighted to have the Spin Master executive team visit us in China to meet directly with the Alibaba Tmall Group," said Andy Du Hong, General Manager of Tmall, Mom & Child Category. "We laid down a solid foundation that will help develop an even deeper relationship, and we look forward to seeing more of Spin Master's innovative products launching on Tmall in the very near future."
"The market outside of North America represents approximately 70 percent of global toy industry sales," said Ben Gadbois, Spin Master's Global President and COO. "One of our four key growth strategies is to continue to increase International sales by opening new markets, leveraging our current geographic footprint though new channels of distribution, increasing sales with our existing distributors and opening new Spin Master offices."
"China is a key part of our strategy, and we are very pleased with the early success we are having in our flagship stores with Alibaba Tmall," Gadbois said. "Our key brands are being embraced by the Chinese consumer, and we look forward to continued growth."
Spin Master is committed to international expansion as part of its growth strategy. Watch for the launch of more Spin Master core brands, particularly in the China market, in the months to come.
About Spin Master
Spin Master (TSX:TOY; www.spinmaster.com) is a leading global children's entertainment company that creates, designs, manufactures, licenses and markets a diversified portfolio of innovative toys, games, products and entertainment properties. Spin Master is best known for award-winning brands including Zoomer®, Bakugan®, Meccano®, and 2017 Toys of the Year, Hatchimals®, Air Hogs® and PAW Patrol®. Since 2000, Spin Master has received 83 TIA Toy of The Year (TOTY) nominations with 25 wins across a variety of product categories, including 13 TOTY nominations for Innovative Toy of the Year, more than any of its competitors. To date, Spin Master has produced six television series, including 2007 success Bakugan Battle Brawlers and current hit PAW Patrol, which is broadcast in over 160 countries and territories globally. Spin Master employs over 1,500 people globally with offices in Canada, United States, Mexico, France, Italy, United Kingdom, Slovakia, Poland, Germany, Sweden, the Netherlands, China, Hong Kong, Japan, Vietnam and Australia.