Lima, January 26, 2022Updated on 01/26/2022 10:32 am
Shares of Mattel Inc. gained after the company regained the license to produce toys based on the Walt Disney Co. princesses and the “Frozen” movies.
The second largest manufacturer of toys of the United States announced on Wednesday a multi-year global license agreement with Disney and said he expects the new collection to go on sale in early 2023. The news is something of a homecoming for Mattel, that he had lost the rights to the princess and “Frozen” to his greatest rival Hasbro Inc. in 2016.
sales of toys they have rebounded after falling early in the pandemic. Mattel, known for its Barbie and Fisher-Price brands, said in October that it expected full-year sales to rise by about 15%, up from a previous forecast of 12-14%.
“As the world leader in dolls, we look forward to bringing our unique Mattel Playbook approach to brand management, product and marketing expertise, and relentless attention to detail and quality to create innovative and inspiring lines for these iconic characters and stories.” , Richard Dickson, Mattel’s chief operating officer, said in a statement.
The actions of Mattel they were up 11% at 10:06. am in New York, its biggest intraday gain since April 23. Hasbro rose 0.5%.
Morningstar analyst Jaime Katz said the new deal for Mattel, which was first reported by the Wall Street Journal, “indicates goodwill with Disney’s historic brands, potentially opening up a broader set of licensing opportunities over time”.
Loss of license Disney by Mattel represented a rift between the manufacturer of toys and entertainment companies and contributed to a series of struggles that have eroded share values in recent years.
Hasbro He did not respond to a request for comment about losing his rights to the princesses. The company said Wednesday that it has renewed its license for the “Star Wars” franchise from Disney and signed a new agreement with the filmmaker to develop toys “Indiana Jones”.
“Mattel is executing at a higher level than Hasbro.”Gerrick Johnson, an analyst at BMO Capital Markets, said on Wednesday. “The roles have been reversed”.