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Disney character doll sisters, Elsa and Anna of Arendelle, from the Disney film Frozen.
Catherine Lane | Getty Photos
Mattel shares jumped Wednesday after the toy producer stated it gained the license to make toys based mostly on Walt Disney’s princess lineup, together with the favored “Frozen” franchise.
It marks a big triumph for Mattel after it misplaced the license to rival Hasbro in 2016.
Mattel’s inventory was lately up greater than 6% in premarket buying and selling. Hasbro was down almost 2%.
Mattel will begin promoting new Disney toys in 2023, and the enterprise will probably be managed by the identical group that oversees its Barbie franchise. Monetary phrases of the deal weren’t disclosed.
A consultant from Hasbro did not instantly reply to CNBC’s request for remark.
Learn the total press launch from Mattel right here.
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