Canadian toy and entertainment company Spin Master is to sell directly to retailers in Russia, Switzerland, Austria and Greece from next year.
The move is the latest step in Spin Master’s on-going international expansion.
Spin Master has formed the subsidiary Spin Master Rus, based in Moscow, and will begin direct distribution in Russia in early 2019. Andrey Savchenko, general manager of Russia, will oversee sales and marketing activities.
The company will service the Swiss and Austrian markets through its existing office in Germany, while the Greek market will be serviced through Spin Master’s office in Italy.
The company has highlighted these territories as representative of key market penetration opportunities that will support the company as it increases scale outside of North America.
Spin Master saw its fiscal 2017 revenue increase by 34 per cent to $1.55 billion and gross profit for the full year was also up 34 per cent to $800.5 million.