Toy State gets keys to Hot Wheels brand
NORWOOD, Mass. — Hot Wheels has entered into a licensing agreement with Toy State, a leading manufacturer of licensed and highly stylized lights-and-sound toy vehicles.
The agreement, which runs through 2016, gives Toy State the green light to design and build a new line of high-octane custom versions of Hot Wheels remote-controlled and lights-and-sound toys.
"No doubt our fans will embrace the innovation and style that Toy State will inject into our product lineup," said Simon Waldron, VP, 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."
Price points are currently being finalized, and product is scheduled to be on shelves beginning 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, SVP 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 Amazon.