With a toy egg, the toy giant's performance has tripled! Now I am entering the Chinese market again.

Toy manufacturer Spin Masterd began to expand into a potentially huge market in China after the success of the Hatzimal toy egg (Hashi Magic Egg).

　　

Toronto-based Spin Master shares rose 19% on August 2, the biggest gainer in intraday trading, up 143% when the company went public two years ago. The Spin Master's second quarter results impressed investors, exceeding analysts' expectations. The company also raised its full-year sales forecast.

Spin Master produced several successful toys, including PAW Patrol, Air Hogs and Meccano, but the toy egg Hatsimals was very successful, and the toy also increased the company's total sales in the second quarter by 311%.

Spin Master launched the lower-priced Hatchimals Colleggtibles this quarter, and Chief Operating Officer Ben Gadbois said the toys have been sold globally.

Gadbois said in a conference call on August 2: "We actually sell Colleggtibles at an unexpected rate," adding that he could not quantify the company's revenue. He also said: "Then we increased our production capacity and continued to work with all retailers."

These toys are key to Spin Master's expansion in several markets, including China, which will bring these toys to the Chinese market in the second quarter. The company will distribute Hatximals and other toys through Alibaba's Tmall platform. The Chinese toy market is very large, reaching $11.5 billion, but most of the products are supplied by manufacturers with lower local prices.

He said: "Despite this, the Chinese market will become very important. We expect our sales to continue to grow, and we expect that as we enter the Chinese market, Chinese consumers are increasingly eager to buy more branded products. So we It also regards entering the Chinese market as a strategic investment that is very important for the medium and long-term development in the future."

Spin Master will launch a new "surprise" version of Hatsimals on October 6th and continue to look for other growth opportunities by acquiring other companies.

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