EL SEGUNDO,
Calif., June 14,
2017 /PRNewswire/ -- Mattel, Inc.
(NASDAQ: MAT), a global leader in learning and development through
play, today announced the signing of an agreement to form a new
joint venture with Fosun Group, subject
to Chinese regulatory approvals. The purpose of the joint venture
is to introduce a network of one-of-a-kind learning and play
clubs for children and families across
China, pairing Mattel's expertise
in childhood learning and development through play with Fosun's
experience in delivering world-class experiences in China through its Club Med
subsidiary.
Mattel will contribute to the design of a custom
development program that leverages its expertise in learning and
development through play and trusted, globally-recognized brands.
The aim is to incorporate hands-on play experiences as part of the
educational services offered at the
clubs.
Club Med will apply its expertise in operating kids'
clubs, including event design, process creation and training to
help these clubs become truly unique
destinations for modern families. In
addition, Club Med's existing brand awareness and strong engagement
with Chinese member families will help strengthen the value of the
partnership.
"The learning and play clubs
that will be developed through our partnership with Fosun aim to
create rich experiences and deep connections with kids and parents
alike, and help us deliver on our mission of inspiring wonder in
the next generation to shape a brighter future," said Margo Georgiadis, CEO of Mattel. "Our strides to
innovate and co-create in China
are advancing further through this new joint venture, which is the
latest proof point in our strategy to accelerate emerging market
growth."
Targeted to open in early 2018, the inaugural learning and
play club will be located in the newly
developed Bund Finance Center,
the first "International Metropolitan Meeting Hub" that will
bring together under one roof a variety of different functions in
the areas of finance, commerce, tourism, culture and art.
Primarily focused on children ages zero
to six, the 15,000-sq. ft. upscale learning and play
club will offer a wide variety of experiences,
all dedicated to learning and development through play, and will
include a play area, classroom and day care
area, retail space featuring Mattel, Club Med and
other Fosun-affiliated products
and a food and beverage area. Parents can drop
off their child for a scheduled class or
daycare, or choose to participate in a
play or educational program with their child.
Looking ahead, the companies plan to expand the learning
clubs into a network across China where the market for early education has
reached $30 billion and is expected
to continue growing rapidly.
"Parents in China are
supremely focused on helping their kids succeed and
develop socially and are motivated to give their kids
the best possible start to life," said Jiannong
Qian, Global Partner, Senior Vice President of Fosun Group,
Chairman & President of Fosun Tourism Group. "Mattel's legacy
of play expertise and Club Med's long history of kids'
club expertise, along with both
companies' strong brand recognition, make them the
best partners to co-create these learning and play clubs, helping
Chinese parents give their kids a truly unique and valuable
experience. The cooperation is beneficial for Fosun to step up its
efforts in enriching the health, happiness and wealth of families
around the world."
About Mattel
Mattel is a creations company that inspires the wonder of
childhood. Our mission is to be the recognized leader in play,
learning and development worldwide. Mattel's portfolio of global
consumer brands includes American Girl®, Barbie®, Fisher-Price®,
Hot Wheels®, Monster High® and Thomas & Friends™, among many
others. Mattel also creates a wealth of lines and products made in
collaboration with leading entertainment and technology companies.
With a global workforce of approximately 32,000 people, Mattel
operates in 40 countries and territories and sells products in more
than 150 nations. Visit us online at
www.mattel.com.
About Fosun Group
Fosun was founded in 1992 in Shanghai. Fosun International (00656.HK) was
listed on the main board of the Hong Kong Stock Exchange on
July 16, 2007. As at December 31, 2016, Fosun's total assets exceeded
RMB480 billion and is principally
engaged in three business segments of health, happiness and wealth.
Fosun has been persistently focusing on China's growth momentum and further developing
in industries related to health, happiness and wealth. Fosun
endeavors to build a C2M (Customer to Maker) ecosystem, aspiring to
making a major stride towards its vision of "Innovating a global
happiness ecosystem, deeply rooted in China and centered around the
family".
Media Contacts:
|
|
Mattel
Alex Clark
310-252-6397
alex.clark@mattel.com
|
Fosun Group
Stephanie Fung
+852-2509-3228
stephaniefung@fosun.com
|
MAT-CORP
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/mattel-and-fosun-announce-new-joint-venture-in-china-to-launch-child-development-clubs-300473664.html
SOURCE Mattel, Inc.