Jakks Pacific Inc. and Meisheng Culture & Creative Corp. Ltd., a Chinese entertainment and cultural production industry group, have entered into a joint venture to provide Jakks licensed and non-licensed toys and consumer products to certain territories in China. The joint venture will include a subsidiary in the Shanghai Free Trade Zone, which is expected to sell, distribute, and market the products.
Jakks Pacific will provide dolls, plush, role play products, action figures, costumes, seasonal items, technology and app-enhanced toys, and more, based on its entertainment licenses and proprietary brands.
“Through our partnership with Meisheng, with their trusted name and strong foothold in the Chinese market, we are aiming to bring our diverse portfolio of toys and consumer products into the robust Chinese market to allow millions of families to enjoy our great brands and products,” said Stephen Berman, chief executive officer at Jakks Pacific.
In a statement, Xiaoqiang Zhao, the chairman of Meisheng Cultural & Creative Corp. Ltd., cited the joint venture with Jakks as advantageous to the development of the Chinese toy market.