Shanghai, and mainland China as a whole, got an economic vote of confidence from two fluffy sources this week: Disney and Barbie. News was announced that a Disneyland in Shanghai is likely to be approved this year, and the world’s biggest official Barbie store is finally ready to open in the city.
The two American cultural icons are also astute global companies – Disney with its movie-making division and theme-parks, and the toy-maker Mattel – who are clearly keen to be investing in an economy which is still experiencing some growth (albeit alarmingly slowing growth which could leave millions more jobless in China in 2009) at a time when their core markets in North America, Europe and Japan are all in recession.
Disney’s proposed investment is the larger of this week’s two stories, with the Wall Street Journal reporting Disney’s plan for a new Disneyland theme park in a joint-venture with the Shanghai Municipal government to be worth as much as 3.59 billion dollars, and with a projected opening in 2014. Some local news sources reported earlier this week that the deal has been provisionally agreed, and though China’s Ministry of Commerce and a Disney spokeswoman have denied a done deal, it’s looking closer than ever.
The WSJ elaborated: “Disney [has already] planned to take a 43% stake in Shanghai Disneyland, while a holding company owned by the local government would own 57%, citing unnamed sources,” and cited the Pudong airport area to be the location, noting that it “would include a theme park, plus a hotel and shopping development and would be built over six years.”
This is a $30 million investment and also a culturally interesting move, as it brings the western ideal of femininity, materialism, capitalism and freedom into the hands of small Chinese girls. I’m a bit surprised that the local government didn’t force Mattel into a joint-venture and coerce them into making Barbie asian with deep black hair, with her handsome companion Ken becoming a Chinese man – sort of like Apple’s iPhone (allegedly) being blocked partially because of its wi-fi, which local authorities would prefer to have ripped-out of the device.
The Wall Street Journal – apparently the finest source of toy-related economic news – has a video overview here of how Mattel is banking on its future with Shanghai’s expanding middle-income families.
Interestingly, local news has been reporting that not just children are excited by the new Barbie flagship store, but that 20- and 30-something Shanghai women are flocking to get “Pink World VIP cards” in order to get a Barbie passport and discounts off products once the store opens its sparkly doors. Apparently many women will be buying Barbies for themselves, partly because they were not available to them as girls a decade or so ago.
So, a smart move by Mattel to push Barbie right now, when toy sales will dip significantly in their more established markets. It’s also not so culturally unusual. Indeed, Shanghai women and Barbie have many things in common, such as being obsessed with material possessions, beautifying their self-image and having a rich man who can be bent at will. Ziiiinnnnggggggggggg!
UPDATE: Just seen on Shanghaiist that the China Daily website is now confirming the Disneyland deal, for real, as briefly outlined here. All my above info seems to be correct, so I’ll leave the post unchanged.
“Bent at will”, haha. And that’s leaving alone the whole emasculation angle. 😉
I suppose the 20- and 30-year-olds signing up for Barbie VIP cards could be planning ahead purchases for their child. But then… I’ve seen far too many Chinese “women” with Hello Kitty purses and attire.
Hong Kong is furious about the deal as most of the customers come from the mainland to visit the Disney franchise.
Interestingly, mainlanders are greeted with many signs (and friendly Disney advice in the HK Disney) about spitting in public, urinating in public, children should wear diapers, bellies should be covered, smoking, etc, etc.
I wonder if you’ll be allowed in the Shanghai one?
Yes, I can imagine that the HK tourism authorities are not too pleased about losing a lot of customers once the Shanghai one opens in 2014. Also, it means that China will actually have two Disneylands.
Many people want it to occur, some wish it would take place, others make it happen