LONDON (ShareCast) - (ShareCast News) - Character Group principal trading subsidiary Character Options had its master toy licence for Teletubbies extended for another three years by DHX Media, it reported on Friday, following the retail success of its current toy range.
The AIM-traded company said the deal, which runs until 2020, was for worldwide manufacturing rights with UK distribution, and would see Character Options adding further plush and plastic toys to the range.

New lines - such as Tiddlytubbies - would be inspired by "exciting" new elements from season two, the board said, which launched earlier in 2017.

The group's partnership with DHX began in September 2014 and since then the two companies had worked closely together to recreate the characters and bring a "refreshed, contemporary look" to the pre-school property, it added.

Character Group said the Teletubbies product range was first re-launched in January 2016 and was the number one best-selling new toy property in the UK that year.

"This unique property has helped reinforce our position as market leader in the licensed, pre-school category in the UK as well as building on our growth internationally in this key product area," said Character Group joint MD Jon Diver.

"The DHX partnership is a good example of how we work to seek out and develop exciting products which meet domestic and international market demand.

"We are delighted with the license extension and look forward to adding and enhancing the product range further."

Tom Roe, commercial director at DHX Brands, said that as his company continued to grow the overall licensing programme for Teletubbies, it was "imperative" that it built on strong sales and marketing in core categories.

"Character Options has done a sterling job with the toy lines and we are excited about the new product to come that will complement the current broadcast season.

"We are confident that our continued relationship will see Teletubbies toys go from strength to strength at retail."

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