|By PR Newswire||
|June 19, 2013 08:07 AM EDT||
NORWOOD, Mass., June 19, 2013 /PRNewswire/ -- Hot Wheels® announced today a new licensing partnership with Toy State®, a leading manufacturer of licensed and highly stylized lights and sound toy vehicles. The agreement, which kicks off this year and runs through 2016, will invite Toy State to design and build a new line of over-the-top lights and sound and remote controlled Hot Wheels-branded cars.
"No doubt our fans will embrace the innovation and style that Toy State will inject into our product lineup," said Simon Waldron, Vice President, Marketing, Wheels. "We've given our partner the 'keys' to the Hot Wheels brand to develop the most exciting R/C and lights and sounds cars on shelf."
Toy State will develop high-octane custom versions of Hot Wheels' R/C and lights and sound toys under the new agreement. Price points are currently being finalized, and product is scheduled to be on shelves beginning in 2014. Toy State's core portfolio, which includes Road Rippers® and Gear Heads®, as well as Cat®, Cat® Preschool, DUB Garage® and James Bond 007™, will now expand to include the iconic Mattel brand.
"We are very excited to be working with Mattel in this new partnership. Toy State's portfolio has now grown even stronger with the addition of the iconic Hot Wheels license," said Andy Friess, Senior Vice President of Marketing for Toy State. "The signature style of Hot Wheels will blend seamlessly into the Toy State brand family, and we look forward to adding our lights and sound magic to the Hot Wheels vehicles consumers have been enjoying for more than 40 years. The toy vehicle aisle has just gotten a lot more exciting for fans of Hot Wheels and cars, alike!"
The partnership will apply to Hot Wheels-branded products sold in the United States, Canada, Puerto Rico and throughout the Asia Pacific region. Toy State vehicles are available, domestically and internationally, wherever toys are sold, including Wal-Mart, Toys 'R' Us, Target, K-Mart and on Amazon.com.
About Toy State
Founded in 1984, Toy State is an innovator and industry leader in the manufacture of licensed and highly stylized lights and sound vehicles. Toy State's core portfolio includes Road Rippers® and Gear Heads®, DUB Garage® and James Bond 007™ lights and sounds vehicles, as well as Cat® and Cat® Preschool lights and sound construction toys. Working in-step with the world's leading automakers, and Caterpillar, the leading manufacturer of construction equipment, Toy State products provide hours of enjoyment for kids of all ages. For more information, visit www.toystate.com.
About the Hot Wheels Brand
Since 1968, Hot Wheels has been passionate about creating thrilling vehicle experiences through innovative product and content. With a fan base of more than 41 million people, Hot Wheels is the No. 1 vehicle property in the United States producing the coolest cars imaginable. The Hot Wheels brand began as a line of 16 1:64-scale die-cast vehicles; today, it has evolved into a true, global lifestyle brand for boys of all ages with segments that range from aftermarket parts to licensed apparel to branded digital content from Team Hot Wheels, a real-life race crew of professional drivers performing over-the-top stunts. Check out the official Hot Wheels website for the hottest car games and racing videos, and be sure to visit the Hot Wheels Facebook page.
Mattel, Inc. (NASDAQ: MAT) is the worldwide leader in the design, manufacture and marketing of toys and family products. The Mattel family is comprised of such best-selling brands as Barbie®, the most popular fashion doll ever introduced, Hot Wheels®, Matchbox®, American Girl®, Radica® and Tyco R/C®, as well as Fisher-Price® brands, including Thomas & Friends®, Little People®, Power Wheels® and a wide array of entertainment-inspired toy lines. In 2012, Mattel was named as one of FORTUNE Magazine's "100 Best Companies to Work For" for the fifth year in a row. Mattel also is ranked among Corporate Responsibility Magazine's "100 Best Corporate Citizens." With worldwide headquarters in El Segundo, Calif., Mattel employs approximately 28,000 people in 43 countries and territories and sells products in more than 150 nations. At Mattel, we are Creating the Future of Play. Visit us at www.mattel.com, www.facebook.com/mattel or www.twitter.com/mattel .
SOURCE Toy State