Mattel Wins Back Disney Princess Toy License, Hasbro to Keep Star Wars
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Shares of Mattel stock jumped today as the toymaker announced that they have once again secured the license to produce Disney Princess toys, according to CNBC.
In 2016, Mattel lost the Disney Princess rights to rival toy company Hasbro. This loss caused a shakeup in corporate leadership at the time.
Hasbro has renewed their deal to continue producing Star Wars toys and made a new agreement to make Indiana Jones toys.
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Mattel President and Chief Operating Officer Richard Dickson said in a statement, “As the worldwide leader in dolls, we look forward to bringing our unique Mattel Playbook approach to brand management, product, and marketing expertise.”
Mattel currently produces toys from the Pixar franchises “Cars” and “Toy Story.” They will begin to produce toys from the Disney Princess line in 2023.