Disney character doll sisters, Elsa and Anna of Arendelle, from the Disney film Frozen.
Catherine Lane | Getty Photographs
Mattel shares jumped Wednesday after the toy producer mentioned it gained the license to make toys primarily based on Walt Disney’s princess lineup, together with the favored “Frozen” franchise.
It marks a major triumph for Mattel after it misplaced the license to rival Hasbro in 2016. That sparked a interval of monetary troubles at Mattel and energetic turnover within the C-suite.
However, notably, Hasbro mentioned Wednesday it prolonged its relationship with Lucasfilm by renewing its long-standing licensing deal for the “Star Wars” franchise. It additionally struck a brand new settlement to develop merchandise primarily based on the “Indiana Jones” franchise, which it hasn’t achieved since 2008.
Mattel’s inventory was lately up greater than 6% in premarket buying and selling. Hasbro was down greater than 1%.
Mattel will begin promoting new Disney toys in 2023, and the enterprise will likely be managed by the identical group that oversees its Barbie franchise. Monetary phrases of the deal weren’t disclosed.
Mattel mentioned the brand new licensing deal builds on its current licensing relationship with Disney for Pixar Animation Studios’ “Toy Story” and “Vehicles” franchises, in addition to the lately introduced world licensing settlement for “Lightyear.”
“Because the worldwide chief in dolls, we sit up for bringing our distinctive Mattel Playbook method to model administration, product and advertising and marketing experience,” mentioned Mattel President and Chief Working Officer Richard Dickson.
Hasbro, meantime, mentioned the “Indiana Jones” gadgets will likely be on sale within the U.S. in 2023, aligning with the discharge of the franchise’s function movie.
Learn the total press launch from Mattel here and the discharge from Hasbro here.