Mattel, Inc. [NYSE:MAT] and Ferrari today announced that Mattel has been granted exclusive worldwide rights to produce toys, apparel and accessories, and adult collectible products based upon the rich heritage of Ferrari vehicles and...
Mattel, Inc. [NYSE:MAT] and Ferrari today announced that Mattel has been granted exclusive worldwide rights to produce toys, apparel and accessories, and adult collectible products based upon the rich heritage of Ferrari vehicles and the extraordinary Ferrari race team. Under the multi-year agreement, Mattel will also have the rights to manufacture boys' and girls' toy products including vehicles, dolls, plush toys, and games and puzzles.
"Ferrari is one of the world's most prestigious and recognized brands. Its heritage of exceptional performance and excellence gives the brand enormous global appeal for people of all ages," said Bruce Stein, president, Mattel Worldwide, and chief operating officer. "The incredible success of the Ferrari race teams in worldwide competition further demonstrates their tremendous technical development expertise. We look forward to building upon these equities to grow the Ferrari brand in conjunction with our portfolio of global Mattel brands." "The marque represents our most important asset," said the President of Ferrari Luca di Montezemolo. "For this reason we have chosen to work with Mattel, who are recognised as the international leaders in the world of childrens' toys, and are famous as a company which knows how to build and manage successful brands. Just as significant is Mattel's ability to manufacture scale car models for collectors. The development of the Ferrari trade marque, with Mattel, is a new and important step."
Mattel, Inc., with $4.8 billion in annual revenues, is the worldwide leader in the design, manufacture and marketing of children products including such popular brands as Barbie dolls, Hot Wheels, Matchbox, Fisher-Price, Tyco, Disney and Cabbage Patch Kids. Headquartered in El Segundo, California, Mattel has offices and facilities in 36 countries and markets its products in more than 150 nations throughout the world.