Netflix To Launch Online Store

Netflix announced on Thursday, that it will launch an online store to sell limited-edition apparel, lifestyle merchandise, and collectibles based on "Stranger Things," "Lupin" and other popular shows.

Netflix shop will be available in the United States from Thursday and expand to other countries in the coming months, according to a blog post.

The video streaming company is facing a growing list of competitors offering their streaming services with new movies and TV shows. In April, Netflix performed below of Wall Street projections for new subscribers. 

While it remains the dominant player in streaming, with 207 million global subscribers, other streaming sites like Amazon Prime and Disney Plus have something it doesn't - mature and lucrative consumer products operations capable of providing significant financial contributions. Many individual properties can bring in billions in revenue and offer synergistic opportunities in theme parks and other settings. While Netflix has insisted it has no plans to introduce advertising into its service, it is looking for ways to diversify its revenue.

This new online store will offer a new source of revenue for Netflix and expand its product line beyond the items it will sell through partnerships with other companies like Target and Walmart.

According to the company, merchandise in the online shop will be "carefully selected high-quality apparel and lifestyle products."

Items debuting this month include streetwear and action figures based on anime series "Yasuke" and "Eden," as well as apparel and decorative items inspired by French crime thriller "Lupin," Netflix said. The "Lupin" products were developed with support from the Louvre museum.

Talking about the company's plans, the post revealed that Netflix will also introduce products based on hit series "The Witcher" and "Stranger Things" and Netflix logo-wear from Japanese fashion house BEAMS.

Netflix has also created video games based on shows "Stranger Things" and "La casa de Papel (Money Heist)."

The company's stock (NFLX) on NASDAQ currently trades at $487.27.