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Nickelodeon & Viacom Consumer Products (NVCP), part of Viacom International Media Networks (VIMN), a unit of Viacom Inc. (NASDAQ: VIA, VIAB) has announced an international, multi-category and multi-property wholesale agreement around NVCP’s adult and kids’ portfolio with Orlando based Summit Resources International (SRI) a division of Entertainment Retail Enterprises. Latin American and Asian markets will be the strategic focus of the international agreement. The deal will see SRI create and execute multi-category wholesale strategies for NVCP’s international adult and kids’ brands focusing on top tier product development and increasing presence at retail through customized brand solutions. SRI will work in direct partnership with NVCP consumer product operations in Latin America and Asia to deliver new product collections for retail. The non-exclusive, multi-year agreement covers all NVCP brands including Nickelodeon and MTV, and related properties such as SpongeBob SquarePants and Dora the Explorer. Michael Connolly, Senior Vice President, NVCP, VIMN made the announcement at Licensing Expo 2012 in Las Vegas. Connolly noted, “This deal reflects a strategic effort to fully maximize our product footprint at retail through SRI’s locally established distribution channels in Asia and Latin America. As these regional businesses continue to expand, SRI’s proven market expertise in brand development, manufacturing and licensing will complement and support our existing local consumer product activities, adding more brand value for our partners and new experiences for consumers.” Tina Calvo, Principal and CEO of SRI commented, “This is an exciting partnership for us where we can apply our extensive expertise, in collaboration with VIMN, to optimize the amazing assets and properties of VIMN and bring them to consumers.” |
