SpaceX Mattel has signed a multi-year deal with Elon Musk’s SpaceX to create a line of toys inspired by the space venture, the companies announced Wednesday. “As space exploration moves faster than ever, we’re thrilled to partner with SpaceX and help create limitless play patterns for the space explorer in every child,” said Nick Karamanos, Mattel’s senior vice president of entertainment partnerships, in a Press release. Financial terms of the deal were not disclosed. The El Segundo, Calif.-based toy company expects to launch its SpaceX line of products in 2023. The partnership was announced ahead of the anniversary of the first human landing on the surface of the Moon in 1969. SpaceX has long sold merchandise through its own website, but those items have typically been limited to shirts, jackets and other accessories such as hats and bags. With Mattel’s help, SpaceX can delve into ventures like plushies, dolls or construction sets with a veteran toy maker. The collectibles market has become a lucrative space for Mattel and other companies, including Hasbro and Funko, so exclusive licensing deals for specific pop culture brands with significant fan bases are becoming increasingly important. The partnership comes just months after Mattel sent two Barbie dolls into space as part of a partnership with the International Space Station National Laboratory to encourage girls to consider aerospace, engineering and STEM careers. The toy company, which has undergone a revitalization under CEO Ynon Kreiz over the past four years, has entered into a number of strategic licensing deals to bolster its business. In January, Mattel announced it had won back the lucrative Disney princess license from rival Hasbro and will begin selling toys based on beloved princess characters from the “House of Mouse,” such as Anna, Elsa and Merida, in 2023. Mattel declined to comment further as it is set to report second-quarter earnings after the bell on Thursday. A SpaceX spokesman also did not immediately respond to a request for comment.
