Hasbro, Inc. has won a ten year contract to manufacture and market the toys for all the Sesame Street characters. The contract for the last ten years was held by Mattel, Inc.
The new products from Hasbro's Playskool division will be based on Elmo, Big Bird, Cookie Monster and other mainstays of the television program, according to a statement today. The line of toys and games by Pawtucket, Rhode Island-based Hasbro will be available in stores starting 2011.
Fisher Price, a subsidiary of Mattel Inc., the world's biggest toymaker, owned the rights for the last 10 years, said Sherrie Westin, chief marketing officer of Sesame Workshop. The switch was made because Hasbro has the right strategy to develop a year-round business, Westin said. More Sesame Street toys will be sold throughout the year going forward, she said.
"Our approach to the consumer is to deliver products throughout the year, not just in the fourth quarter," John Frascotti, chief marketing officer of Hasbro, said.
Ouch! Hasbro just couldn't resist slapping Mattel when it's down. Mattel could not be reached for comment about losing the huge Sesame Street deal.
