IMAGI ANNOUNCES STRATEGIC ALLIANCE
FOR GATCHAMAN AND ASTRO BOY TOY DEVELOPMENT
Hong Kong (August 7, 2007) – Imagi Animation Studios (Imagi) today announced that it has established a strategic relationship with Wah Shing Toys Co., Ltd. (Wah Shing) to develop and produce innovative toys based on the characters, vehicles, sets and props from the studio’s next two CG-animated feature films, Gatchaman and Astro Boy.
Both companies are headquartered in the Chai Wan district of Hong Kong. Imagi’s artists and animators are collaborating with toy designers and engineers from Wah Shing to develop toys that are more feature-rich and innovative than typical movie-related toys.
“Usually, movie studios sign a license agreement, then leave the toy company to fend for itself,” said Douglas Glen, Imagi’s Co-CEO, and formerly a senior executive with Mattel Toys.
“Imagi is taking a different approach, by pooling the creative juices of the filmmakers with those of the toy designers. The resulting toys will be truer to the movies and offer much more play value.”
“This is a superior business model for all concerned,” said Richard Ellert, Managing Director of Wah Shing. “We now have the lead time and creative horsepower to develop products that will far exceed consumer expectations.”
The toys are scheduled to ship concurrently with the theatrical releases of the two CG animated films in 2009.
Glen added, “Imagi and Wah Shing are in discussions with several major toy companies with respect to distribution and marketing of the toys, and we expect to make announcements in the near future.”
Above article is extracted from imagi press release