Mattel (MAT) Inks Deal With Illumination & Universal Brand
Zacks Investment Research | Feb 15, 2019 07:52AM ET
Mattel (NASDAQ:MAT), Inc. (NYSE:T) entered a three-year international licensing agreement with Illumination and Universal Brand Development for the Despicable Me franchise. The company’s licensing rights in North America and international markets comprise action figures and dolls, play-sets, vehicles, radio control toys, games, plush, role-play and accessories.
Mattel is also slated to launch a multi-category collection by Illumination's upcoming Minions sequel. The collection will be launched by retailers worldwide during the global theatrical premiere in summer of 2020.
The above move is in line with Mattel’s efforts to revive brand image and drive persistently falling revenues. To this end, the company also recently partnered with AT&T Inc.’s (NYSE:T) Warner Bros. These partnerships are likely to drive Mattel’s sales over the long term.
Shares of Mattel have gained 11.2% over the past six months against the Zacks Investment Research
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