Benzinga | Oct 11, 2021 08:29AM EDT

Walmart, Netflix Partner On Merchandise From Hit Shows Like 'Squid Game,' 'Nailed It'

Retail giant Walmart Inc. (NYSE:WMT) and Netflix, Inc. (NASDAQ:NFLX) announced a partnership that signals the streaming giant's renewed push into merchandise marketing.

What Happened: Walmart announced the launch of the "Netflix Hub," a dedicated online hub that will offer products in a variety of categories, including music apparel, toys and games, based on popular Netflix shows, Jeff Evans, Walmart's EVP for Entertainment, Toys and Seasonal, said in a statement Monday.

Walmart said the merchandise will become available over the next couple of months, just in time for the holiday shopping season.

"The Netflix Hub brings together some of its most popular shows in its first digital storefront with a national retailer, and we're proud to partner with them on this new adventure that will let our customers dive even deeper into their favorite stories and characters," Evans said.

The ,erchandise to be made available on the Netflix Hub include those from preschool series "Ada Twist, Scientist" and "Waffles" as well as products inspired by popular shows such as "The Witcher" and "Squid Game."

Walmart said it plans to allow fans to vote for merchandise they would like to see from their favorite Netflix shows and Walmart merchants will then bring it to life.

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Why It's Important: Netflix's renewed thrust into merchandise marketing comes against the backdrop of others such as Walt Disney Company (NYSE:DIS), which has long been minting billions of dollars from merchandise sales.

Netflix began offering its merchandise through Walmart in 2018,but the products did not get enough visibility among plethora of products the retail giant hawks online.

The company has also stitched up partnerships with other retailers such as Target Corporation (NYSE:TGT), Swedish retailer H&M and NIKE, Inc. (NYSE:NKE).

This is the first time Netflix is getting retail dedicated space.

In premarket trading, Netflix shares were edging down 0.11% at $ 631.96 and Walmart was edging down 0.04% at $139.60.

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