Toy company Mattel has won back the licensing rights for Disney's princess and Frozen franchises.
The reunion comes after Hasbro bested the rights for the Frozen and princess products away from Mattel in 2014. Disney released Frozen in movie theatres in November 2013, and it became an instant success. Frozen and the sequel, Frozen II, are in the top 20 highest grossing films of all time.
The new multiyear global deal between Disney and Mattel will allow Mattel to develop lines of toys for Disney consumer products, games and publishing, including fashion dolls, small dolls, and figures.
Mattel will develop dolls based on Disney Princesses including Aladdin, Beauty and the Beast, Brave, Cinderella, The Little Mermaid, Mulan, Pocahontas, The Princess and the Frog, Sleeping Beauty, Snow White and the Seven Dwarfs, Tangled, Disney Frozen, The Little Mermaid Live Action, Moana D+ Series, Tiana D+ Series, Aladdin Live Action, Beauty & the Beast Live Action, Cinderella Live Action, and Mulan Live Action.
“By furthering our longstanding relationship with Mattel, we look forward to expanding the worlds of Disney Princess and Frozen, introducing an innovative new era of these beloved franchises through captivating products and play opportunities,” Stephanie Young, president of Disney consumer products, games and publishing, said in a statement.
The products are expected to launch at retailers worldwide at the start of next year.
Mattel Inc. has an existing licensing arrangement with Disney for Pixar Animation Studio’s Toy Story and Cars franchises, and recently announced a global licensing deal for Lightyear.
Shares of Mattel climbed 9 per cent in midday trading on Wednesday (local time).