9.8 C
New York

Mattel inks cope with Elon Musk’s SpaceX to provide line of toys

Published:

The corporate’s Cargo Dragon spacecraft rolls out to the launchpad in Florida atop a Falcon 9 rocket.

SpaceX

Mattel inked a multiyear cope with Elon Musk’s SpaceX to create a line of toys inspired by the space enterprise, the businesses announced Wednesday.

“As space exploration advances more quickly than ever before, we’re thrilled to work with SpaceX and help spark limitless play patterns for the space explorer in every kid,” said Nick Karamanos, Mattel’s senior vice chairman of entertainment partnerships, in a news release.

Financial terms of deal weren’t disclosed.

The El Segundo, California-based toy company expects to start releasing the SpaceX product line in 2023. The partnership was announced ahead of the anniversary of when humans first landed on the moon’s surface in 1969.

SpaceX has long sold merchandise through its own website, but those items have typically been limited to shirts, jackets and other accessories similar to hats and bags.

With Mattel’s help, SpaceX can delve into ventures similar to plush, dolls or constructing sets with a veteran toy manufacturer. The collectors market has turn out to be a lucrative space for Mattel and other corporations including Hasbro and Funko, so exclusive licensing deals for specific popular culture brands with notable fan bases has turn out to be increasingly necessary.

This is not the primary time Mattel and Musk have linked as much as create toys. In early 2020, Mattel created two remote-controlled vehicles based on Tesla’s Cybertruck.

This recent partnership comes just months after Mattel sent two Barbie dolls into space as a part of a collaboration with the International Space Station National Lab to encourage girls to contemplate aerospace, engineering and STEM careers.

The toy company, which has undergone a revitalization under CEO Ynon Kreiz during the last 4 years, has made a lot of strategic license agreements to bolster its business. In January, Mattel announced that it recouped the lucrative Disney princess license from rival Hasbro and can start selling toys based on beloved princess characters from the “House of Mouse,” similar to Anna, Elsa and Merida, in 2023.

Mattel declined to comment further, because it is ready to report second-quarter earnings after the bell Thursday.

A representative for SpaceX also didn’t immediately reply to a request for comment.

sportinbits@gmail.com
sportinbits@gmail.comhttps://sportinbits.com
Get the latest Sports Updates (Soccer, NBA, NFL, Hockey, Racing, etc.) and Breaking News From the United States, United Kingdom, and all around the world.

Related articles

spot_img

Recent articles

spot_img