German toymaker Ravensburger has outlined a broad new digital investment strategy that will place focus on partnering with new start-ups.
The announcement run adjacent to the firm’s recent participation in an investment total of £8.5 million in the digital personalised book publishing firm, Wonderbly and its Lost My Name flagship title.
The investment was made as part of a broader digital investment initiative detailed by Ravensburger CEO Clemens Maier at the firm’s annual press conference.
“Strategic investments, as in the case of Wonderbly, are one element of a broader digital investment initiative for us,” Thomas Bleyer, managing director of Ravensburger Digital, told ToyNews.
“We view this as a valuable additional source of innovation, know-how generation and business opportunities and will there be looking at additional investment opportunities in this direction.”
Ravensburger has held the mantle as one of the leading children’s book publishers in the German-speaking market for a number of years, with book publishing as the second largest division of the company.
The recent investment deal in Wonderbly therefore stands as a savvy move to increase the company’s efforts in the digital book market, one that will be a ‘key driver to enable future growth’ for the firm.
“We had been following the segment of personalised entertainment products for some time,” continued Bleyer.
“We also have product offerings in this area and see it as an interesting space for innovation. Wonderbly convinced us with a particularly strong combination of creativity and digital technology competence and we see a good strategic match between what they do and our own innovation interests.
“We see various potential ways in which to cooperate with Wonderbly as it has a strong product pipeline in the making and we are looking forward to working with them to support their future growth.”