Canadian toy company, Spin Master, has signed a deal with Chinese internet giant, Alibaba.
The strategic partnership will see the businesses collaborate on creating a leading digital retail platform, brand building and data-powered marketing.
Spin Master's global president and COO, Ben Gadbois, said that the partnership represents a milestone for Spin Master.
“We have been actively pursuing our objective of growing global sales.
“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,” he said.
General manager of Alibaba's Tmall Mum and Baby division, Andy Du, said that the partnership will deliver important insights to help Spin Master strengthen its presence in the Chinese market.
“Spin Master has been a great partner to Alibaba. 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.”
In a statement, Spin Master said that both companies are excited for the strategic cooperation. The statement also foreshadowed the release of new Spin Master products in China in the months to come.
The deal was announced on 28 September.