Under a Global Master Toy license, Basic Fun will manufacture and distribute Littlest Pet Shop collectible figures, playsets and accessories.
Basic fun announced a Master Toy licensing agreement with Hasbro for the iconic Littlest Pet Shop brand. Basic Fun is expected to manufacture and distribute collectible figures, playsets and accessories to retailers worldwide as early as 2024.
Littlest Pet Shop collectible figures were originally released in 1992 and quickly stole the hearts of collectors around the world. With over 3,000 variations and millions of pets sold worldwide, Littlest Pet Shop has quickly grown into a lifestyle brand that spans consumer products as well as electronic games and a television series of pets. animation. When relaunched in 2005, the brand was one of the fastest growing collectibles in the toy industry with hundreds of millions of animals sold, along with playsets and accessories that have made the gaming experience complete. As a testament to its heirloom status, the quirky, edgy, and cute characters remain popular with collectors today.
“We are thrilled to extend our partnership with Hasbro to bring back one of the world’s most iconic and best-selling collectible toy brands,” commented Jay Foreman, CEO of Basic Fun. “We are specialists in ‘newstalgia’ and re-energizing legacy brands with a strong portfolio of classic brands that have become generational favourites, such as Tonka, Lite-Brite, Lincoln Logs, Care Bears and K’ Nex. We’re thrilled to have the opportunity to honor Littlest Pet Shop’s rich history as a heritage brand and introduce the classic to a whole new generation of today’s kids and kid collectors via immersive physical and digital gaming experiences.
“Littlest Pet Shop was a smash hit when it launched in 1992 and again in 2005,” said Jess Richardson, vice president, Global Toys and Games, Licensed Consumer Products at Hasbro. “With Basic Fun at the helm, we can’t wait to bring this beloved franchise back to delight our new fans. This move is an excellent example of our Master Plan Strategy 2.0 in action, moving from an owned-and-operated model to a licensed model to unlock new categories for consumers and unlock the potential of our classic brands.