The partnership will be committed to strengthening digital, brand, and marketing capabilities for both companies
TORONTO, Sept. 28, 2018 /CNW/ - Spin Master Corp. (TSX:TOY; www.spinmaster.com), a leading global children's entertainment company announces a strategic partnership with internet giant Alibaba in China. The strategic cooperation will be committed to creating a leading digital platform for retail, brand building, and data-powered marketing, demonstrating a mutual confidence and recognition of Spin Master's global potential in China.
"We have been actively pursuing our objective of growing global sales," said Ben Gadbois, Spin Master's Global President and COO. "China is a key part of our international growth strategy and Alibaba is a strong partner who shares our commitment to customer excellence. This strategic cooperation agreement with Alibaba represents a significant milestone in Spin Master's efforts to exceed the expectations of Chinese consumers."
"Spin Master has been a great partner to Alibaba," said Andy Du, General Manager of Tmall Mom & Baby Division. "We have seen impressive growth and performance of Spin Master's brands on Alibaba's platforms. We trust that through this partnership, Alibaba Group's Omni Ecosystem will help bring significant insights that will provide substantial support to Spin Master's continued expansion in China."
Spin Master was recently honored with the "Fast and Furious Award" from Tmall, the online marketplace of the Alibaba Group, for PAW Patrol. The strong consumer response to Spin Master's products in China, along with the recognition from Alibaba and this strategic cooperation, further demonstrates Spin Master's considerable progress in driving international expansion, a key growth strategy for the company. In 2017, Spin Master's international sales grew to 34.7% of Gross Product Sales compared to 32.5% in 2016, as a result of expanding distribution networks, increasing internal sales capabilities in existing offices, widening product offering, and executing effective global marketing campaigns.
Both Spin Master and Alibaba are very excited about this new strategic cooperation and the mutual benefits it will bring for both companies. Watch for the launch of more Spin Master brands and award-winning toys, 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®, Erector® by Meccano®, Hatchimals®, Air Hogs® and PAW Patrol®. Since 2000, Spin Master has received 96 TIA Toy of The Year (TOTY) nominations with 28 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 has 28 offices and employs over 1,700 people globally in Canada, United States, Mexico, France, Italy, United Kingdom, Russia, Slovakia, Poland, Germany, Sweden, the Netherlands, China, Hong Kong, Japan, Vietnam and Australia.
About Alibaba Tmall Group
Alibaba is one of the largest internet companies in Asia and the world, with millions of registered members and active users. Tmall (www.tmall.com) is a B2C online retail platform with over 100,000 merchants and more than 70,000 brands.
SOURCE Spin Master