Hasbro and Basic Fun! Ink Global Master Toy License to Relaunch Littlest Pet Shop!
Basic Fun! announced a Master Toy license agreement with Hasbro (NASDAQ: HAS) to relaunch the Littlest Pet Shop brand. The agreement allows Basic Fun! to manufacture and distribute Littlest Pet Shop collectible figures and playsets starting in 2024. Originally launched in 1992, the brand has sold millions of toys worldwide, with a strong legacy. This partnership aims to reintroduce the brand to a new generation, leveraging Basic Fun!'s expertise in marketing nostalgic toys.
- Master Toy license agreement expected to boost sales of the Littlest Pet Shop brand.
- Basic Fun! aims to leverage its expertise in nostalgic brands to attract new customers.
- None.
BOCA RATON, Fla., Nov. 15, 2022 /PRNewswire/ -- Basic Fun!, a leading global marketer of toys and consumer products, announced a Master Toy license agreement with Hasbro, Inc. (NASDAQ: HAS), a global branded entertainment leader, for the iconic Littlest Pet Shop brand. Basic Fun! is expected to manufacture and distribute Littlest Pet Shop collectible figures, playsets, and accessories to retailers worldwide as early as 2024.
LITTLEST PET SHOP collectible figurines were originally launched in 1992 and quickly stole the hearts of collectors around the world. With over 3,000 variations and millions of pets sold worldwide, LITTLEST PET SHOP quickly became a lifestyle brand expanding into other consumer products as well as electronic games and an animated television series. When relaunched in 2005, LITTLEST PET SHOP was one of the fastest growing collectible brands in the toy industry with hundreds of millions of pets sold to-date plus playsets and accessories that made the LITTLEST PET SHOP play experience complete. As a testament to its legacy status, the quirky, edgy, and cute characters that are signatures of LITTLEST PET SHOP remain popular with collectors today.
"We are excited to expand our partnership with Hasbro to bring back one of the world's most iconic and best-selling global collectible toy brands," shared Jay Foreman, CEO for Basic Fun! "We are specialists in 'newstalgia' and re-igniting the power of legacy brands with a robust portfolio of classic brands that have become generational favorites such as TONKA, Lite-Brite, Lincoln Logs, Care Bears and K'NEX. We are excited for the opportunity to honor the rich history of LITTLEST PET SHOP as a heritage brand and introduce the classic to a whole new generation of today's kids and kidult collectors via immersive physical and digital play experiences."
"LITTLEST PET SHOP was a runaway success when it first launched in 1992 and again in 2005. With Basic Fun! at the helm, we are looking forward to bringing back this beloved franchise to delight our newest fans," said Jess Richardson, VP, Global Toys & Games, Licensed Consumer Products at Hasbro. "This move is a great example of our Blueprint 2.0 strategy in action, moving from owned and operated to a licensed-out model to unlock new categories for consumers and unleash the potential of our classic brands like LITTLEST PET SHOP.
Basic Fun! is a dynamic global marketer of classic and innovative children's entertainment products for today's kids. The company plays in many core toy categories including classic heritage toys, novelty collectibles, building toys, youth electronics, plush, vehicles, dolls and activity/discovery. Basic Fun!'s key brands include: Care Bears, Cutetitos, Pound Puppies, TONKA, K'NEX, Lite-Brite, Mash'ems, Playhut, Arcade Classics and more! For more information, please visit www.BasicFun.com.
Hasbro is a global branded entertainment leader whose mission is to entertain and connect generations of fans through the wonder of storytelling and exhilaration of play. Hasbro delivers engaging brand experiences for global audiences through gaming, consumer products and entertainment, with a portfolio of iconic brands including MAGIC: THE GATHERING, DUNGEONS & DRAGONS, Hasbro iGaming, NERF, TRANSFORMERS, PLAY-DOH and PEPPA PIG, as well as premier partner brands.
Hasbro is guided by our Purpose to create joy and community for all people around the world, one game, one toy, one story at a time. For more than a decade, Hasbro has been consistently recognized for its corporate citizenship, including being named one of the 100 Best Corporate Citizens by 3BL Media, one of the World's Most Ethical Companies by Ethisphere Institute and one of the 50 Most Community-Minded Companies in the U.S. by the Civic 50. For more information, visit www.corporate.hasbro.com.
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