Melbourne-based manufacturer and distributor Funtastic, has been awarded the rights to distribute Toy Story 4 toys in Australia and New Zealand.
The deal, that was closed on 4 May, sees Funtastic as the distributor for the Toy Story brand for the second time, after previously distributing products for Toy Story 3 in 2010.
“The decision by Thinkway to appoint Funtastic to market and merchandise Toy Story 4 is an endorsement that Funtastic has excellent capabilities in this area,” Steven Leighton, Funtastic CEO said.
Like many other toy companies, Funtastic has been recently feeling the pinch, suffering financial woes. On last report from January this year, Funtastic posted a 31 per cent revenue decline. On 4 May, Funtastic's stock fell 16 per cent to 16 cents. The hope is that the Toy Story deal will create roughly $25 million in revenue during the 2019 and 2020 financial years.
“The company has worked tirelessly over the past 12 months to dramatically improve its financial performance and this decision is yet another step in Funtastic growing its credibility in the wider toy and licensing market,” Leighton said.
Toy Story 4 is due for release in June 2019.