licensed characters often linked to the most famous cartoons or films. 2) Toys International which deals with the marketing of toys abroad mainly through partnerships with strong local players. 3) Retail which directly manages about 250 proprietary toy stores mainly in Italy and France; these owned chains are also supported by over 450 franchise stores. 4) Horizontal Business which extends the Group's own-brand and licensed toy brand to products similar to the world of children and toys.