In association with its subsidiary Club Med, Mattel has entered into a strategic joint venture with Fosun Group to introduce a number of learning and play clubs for children and families throughout China.
“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, chief executive officer, 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,” she added.
With the agreement in force, the well-known US toy company will contribute to the design of a custom development programme which will incorporate hands-on play experiences as part of the educational services offered at the clubs.
Meanwhile, Club Med will use its expertise in operating kids’ clubs, as well as its existing brand awareness in China, to help strengthen the value of the partnership.
Furthermore, each child development club will offer a host of experiences 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.
The new child development clubs are likely to open in early 2018.
