JAKKS Pacific Announces Multi-Year Contract Extension With BLACK+DECKER™ in North America

Rhea-AI Summary

JAKKS Pacific (NASDAQ: JAKK) announced a multi-year contract extension with BLACK+DECKER, starting in 2021, to design and sell a range of toy workbenches and kitchen products across North America. This partnership extends over 16 years, reflecting the increasing demand for roleplay toys, particularly during home-based activities. Popular products include the Tool Belt Set and Power Tool Workshop. JAKKS products are available at major retailers like Target and Walmart.

Positive

• Multi-year contract extension with BLACK+DECKER indicates strong partnership stability.
• Increasing demand for roleplay toys during remote work and virtual classrooms boosts sales potential.
• A history of over 16 years with BLACK+DECKER enhances brand credibility.

Negative

• None.

JAKKS Pacific, Inc. (NASDAQ: JAKK), a leading toy and consumer products manufacturer, today announced a multi-year, North America contract extension with BLACK+DECKER commencing in 2021.

BLACK+DECKER JAKKS Pacific Playset (Photo: Business Wire)

Under this agreement, JAKKS will continue to design, manufacture, market, and sell BLACK+DECKER toy work benches, tool sets, tools, housewares, and kitchen products in the U.S., Canada and Mexico. JAKKS’ current BLACK+DECKER branded toy product lines include best-sellers like the Tool Belt Set, Electric Power Drill, Power Tool Workshop, and BLACK+DECKER Home items such as a Coffee Maker, Toaster, Mixer and Oven.

JAKKS has been a toy partner for BLACK+DECKER for more than 16 years. Throughout this time, its successful line of home roleplay toys has grown and expanded to include even more classic home tools and appliances. Over the last year, these toys have been more important than ever in the environment of working from home and virtual classrooms.

“During quarantine we’ve seen an even greater focus on and success of basic roleplay toys. Our BLACK+DECKER line has been no exception. Children want to emulate what they see their parents do at home. With families doing home improvements using the real BLACK+DECKER tools, kids are even more eager to imagine their own improvement projects with the toy BLACK+DECKER tools,” said Craig Drobis, SVP of Marketing at JAKKS Pacific, Inc.

“Our toys bring the everyday lifestyle of BLACK+DECKER tools and home products to children who love to emulate their parents and learn through play,” said Tabata Gomez, Chief Marketing Officer for Global Tools and Storage, Stanley Black & Decker. “We are excited to extend our long and successful partnership with JAKKS Pacific in support of our flagship BLACK+DECKER brand.”

JAKKS BLACK+DECKER products are sold at Target, Walmart, on Amazon, and many other toy retailers. For more information visit: https://www.jakks.com/products/blackanddecker/

About JAKKS Pacific, Inc.:

JAKKS Pacific, Inc. is a leading designer, manufacturer and marketer of toys and consumer products sold throughout the world, with its headquarters in Santa Monica, California. JAKKS Pacific’s popular proprietary brands include: Fly Wheels™, Kitten Catfe™, Perfectly Cute™, ReDo™ Skateboard Co, X-Power™, Disguise®, Moose Mountain®, Maui®, Kids Only!®; a wide range of entertainment-inspired products featuring premier licensed properties; and C’est Moi™, a new generation of clean beauty. Through JAKKS Cares, the company’s commitment to philanthropy, JAKKS is helping to make a positive impact on the lives of children. Visit us at www.jakks.com and follow us on Instagram (@jakkstoys), Twitter (@jakkstoys) and Facebook (JAKKS Pacific).

About BLACK+DECKER

Since 1910, BLACK+DECKER has been setting the standard for innovation and design of power tools, outdoor yard care equipment, and home products. The inventor of the first portable electric drill with pistol grip and trigger switch, BLACK+DECKER has evolved from a small machine shop in Baltimore, Maryland to a global manufacturing powerhouse with a broad line of quality products used in and around the home. When home owners have work to get done, they trust that BLACK+DECKER products will do the job efficiently and reliably. For more information on BLACK+DECKER products, visit www.blackanddecker.com or follow BLACK+DECKER on Facebook, Instagram, & Twitter.

©2021 JAKKS Pacific, Inc. All rights reserved.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210618005055/en/

FAQ

What is the recent contract announcement involving JAKKS Pacific?

JAKKS Pacific announced a multi-year contract extension with BLACK+DECKER to design and sell toy products in North America, starting in 2021.

How long has JAKKS Pacific partnered with BLACK+DECKER?

JAKKS Pacific has been a partner of BLACK+DECKER for over 16 years.

What products will JAKKS continue to sell under the BLACK+DECKER brand?

JAKKS will design, manufacture, and sell BLACK+DECKER toy workbenches, tool sets, and kitchen products.

Where can JAKKS BLACK+DECKER products be purchased?

JAKKS BLACK+DECKER products are available at retailers such as Target, Walmart, and on Amazon.

What impact has the pandemic had on JAKKS Pacific's toy sales?

The pandemic has increased demand for roleplay toys, as children emulate their parents' home improvement activities.