Rainbow's initial lines will include Bean Toys, the Lola Rag Doll, Paint Your Own Dolls Set, Tea Set with Lola Plush, Domino Set and Book Ends.
Further lines will launch in spring 2013 and are set to include a Plant Press, Garden Play Kit and Make Your Own Friendship Bracelet Set.
The line-up for Christmas 2013 will be a Dress Up and Play Doll range and include Mix and Match outfits & Accessories plus Wardrobe and Bedroom Play-sets.
Cassie Allen, senior licensing manager, BBC Worldwide said: “Charlie & Lola has been a long-standing jewel in our consumer products portfolio.
"The property has lasting and universal appeal thanks to the fantastic publishing heritage and we’ve found over the last five years that the characters and Lola-isms have translated beautifully on to product.
"The appointment of Rainbow Designs as our new master toy partner is testament to our commitment to continue to develop innovative products.”
Anthony Temple, MD, Rainbow Designs added: “We are delighted to be working with BBC Worldwide on such a prestigious Brand. Charlie and Lola is a natural fit to the Rainbow portfolio and is a perfect match for our core customer base, the quality Toy, Book and Gift Retailers.
"We look forward to the challenge of bringing the Rainbow touch to the Charlie and Lola Toy category and we are well underway with a fresh, contemporary product range that will explore everything that ‘Lola Loves’."