Leading U.S. toy manufacturer JAKKS Pacific, Inc. (Nasdaq: JAKK)
announced a long-term licensing agreement with SKECHERS USA, Inc.
(NYSE:SKX), a global leader in the performance and lifestyle footwear
industry, to manufacture, distribute and market a line of toys and
products inspired by the SKECHERS lifestyle and entertainment brand, and
the Twinkle Toes children’s footwear brand. The agreement encompasses
multiple product categories including collectibles, dress-up and role
play, JAKKS’ miWorld™ line of miniature play environments, and a line of
SKECHERS Twinkle Toes themed Cabbage Patch Kids®, which will launch in
June.
Under the agreement, JAKKS will launch a miWorld SKECHERS playset,
allowing girls to build and design their very own SKECHERS mini replica
store, and play in ways that are authentic to the lifestyle footwear
brand. The SKECHERS playset will be compatible with the miWorld Mall
DreamPlay app, which utilizes patented iD recognition technology to
bring the miWorld playsets to life on smartphone and tablet devices.
Unique augmented reality experiences brought to life by the app allows
girls to interact with their miWorld avatar and their physical miWorld
playset on their device screen through “hotspots” showcased in the app.
Girls can unlock interactive games, content-rich experiences and
animation on their smart phone or tablet device.
JAKKS is also producing a line of Twinkle Toes Cabbage Patch Kids
featuring miniature replicas of the real life Twinkle Toes footwear,
including light up versions. In addition, some Twinkle Toes Cabbage
Patch Kids will wear Twinkle Toes apparel and backpacks.
“SKECHERS, especially the Twinkle Toes brand, has become one of the
leading brands with girls today,” said Stephen Berman, CEO and
Co-Founder, JAKKS Pacific, Inc. “This long-term strategic partnership
with SKECHERS will give JAKKS the opportunity to leverage this top girls
brand across a variety of toy lines, including miWorld and Cabbage Patch
Kids. Our products will allow kids to play with the Twinkle Toes brand
in new ways, including with our DreamPlay app to bring the physical
miWorld playsets to life on tablets and smart devices.”
Berman added, “In addition, we will look to maximize the Twinkle Toes
brand and its fun light-up feature across a new dress-up, role play and
toy line launching in Fall 2015.”
“Partnering with the nation’s third largest toy manufacturer provides us
a unique opportunity to extend the reach of SKECHERS and our
exceptionally popular Twinkle Toes footwear,” added Michael Greenberg,
president of SKECHERS. “Not only is Twinkle Toes one of the leading
kids’ footwear lines in the U.S., the brand also carries a high Q Score
and is recognized by a majority of pre-teen girls. This strategic
partnership with JAKKS Pacific allows us to further engage girls in new
ways through amazing products and fun experiences.”
“The opportunity to feature our Cabbage Patch Kids wearing the popular
SKECHERS’ Twinkle Toes shoes is truly unique,” said Colleen Gilday,
consultant on the Cabbage Patch Kid brand. “Twinkle Toes Cabbage Patch
Kids are just like Mom’s Cabbage Patch Kids but with the contemporary
SKECHERS fashions that kids today adore.”
JAKKS expects to launch its Twinkle Toes Cabbage Patch Kids products in
June 2014 and its SKECHERS-licensed miWorld play sets in Fall 2014 at
retailers nationwide.
About SKECHERS USA, Inc.
SKECHERS USA, Inc. (NYSE:SKX), based in Manhattan Beach, California,
designs, develops and markets a diverse range of lifestyle footwear for
men, women and children, as well as performance footwear for men and
women. SKECHERS footwear is available in the United States via
department and specialty stores, Company-owned SKECHERS retail stores
and its e-commerce website, and in over 100 countries and territories
through the Company’s international network of subsidiaries in Canada,
Brazil, Chile, Japan, and across Europe, as well as through joint
ventures in Asia and distributors around the world. For more
information, please visit skechers.com, and follow us on Facebook (facebook.com/SKECHERS)
and Twitter (twitter.com/SKECHERSUSA).
About Original Appalachian Artworks
Original Appalachian Artworks, Inc. (OAA) owner of the Cabbage Patch
Kids brand, was founded in 1978 by Cabbage Patch Kids creator Xavier
Roberts. It is a privately held corporation located in Cleveland,
Georgia. Headquarters to the world famous Cabbage Patch Kids brand, the
new BabyLand General® Hospital, a 70,000 sq. ft., Southern Style home is
located in a rural, mountain community north of Atlanta. Daily welcoming
the family of 128 million ‘Kids worldwide, BabyLand General also houses
the Official Online Adoption Center. Investing in the future of the
artist’s hometown and its people, OAA also manages a wide range of other
projects, while continuing to deliver for over 35 years, the
hand-stitched, one-of-a-kind, soft-sculpture art, once again called
Little People from the Cabbage Patch. www.cabbagepatchkids.com
* @cpkusa * Cabbage Patch Kids Fan Page.
About JAKKS Pacific, Inc.
JAKKS Pacific, Inc. (NASDAQ: JAKK) is a leading designer and marketer of
toys and consumer products with a wide range of products that feature
popular brands and children's toy licenses. JAKKS’ diverse portfolio
includes Action Figures, Electronics, Dolls, Dress-Up, Role Play,
Halloween Costumes, Kids Furniture, Vehicles, Plush, Art Activity Kits,
Seasonal Products, Infant/Pre-School, Construction Toys, Ride-On
Vehicles, Wagons, Inflatable Environments and Tents, Impulse Toys and
Pet Products sold under various proprietary brands including JAKKS
Pacific®, Road Champs®, Funnoodle®, JAKKS Pets™, Plug It In & Play TV
Games™, Kids Only!®, Tollytots®, Disguise®, Moose Mountain® and Maui®.
JAKKS is also the creator of the underlying Monsuno® property and toy
line. JAKKS is an award-winning licensee of several hundred nationally
and internationally known trademarks including Nickelodeon®, Warner
Bros.®, DC Comics, Saban’s Power Rangers® and Cabbage Patch Kids®.
DreamPlay Toys, LLC is a joint venture between JAKKS Pacific, Inc. and
NantWorks LLC to develop, market and sell toys and related consumer
products incorporating NantWorks’ proprietary iD™ recognition
technology. www.jakks.com
This press release may contain forward-looking statements (within the
meaning of the Private Securities Litigation Reform Act of 1995) that
are based on current expectations, estimates and projections about JAKKS
Pacific's and SKECHERS’ businesses based partly on assumptions made by
their respective management. These statements are not guarantees of
future performance and involve risks, uncertainties and assumptions that
are difficult to predict. Therefore, actual outcomes and results may
differ materially from what is expressed or forecasted in such
statements due to numerous factors with respect to JAKKS, including, but
not limited to, those described above, changes in demand for JAKKS'
products, product mix, the timing of customer orders and deliveries, the
impact of competitive products and pricing, and difficulties with
integrating acquired businesses. Factors that might cause or contribute
to such differences with respect to SKECHERS include international,
national and local general economic, political and market conditions
including the ongoing global economic slowdown and market instability;
entry into the highly competitive performance footwear market;
sustaining, managing and forecasting costs and proper inventory levels;
losing any significant customers, decreased demand by industry retailers
and cancellation of order commitments due to the lack of popularity of
particular designs and/or categories of products; maintaining brand
image and intense competition among sellers of footwear for consumers;
anticipating, identifying, interpreting or forecasting changes in
fashion trends, consumer demand for the products and the various market
factors described above; sales levels during the spring, back-to-school
and holiday selling seasons; and other factors referenced or
incorporated by reference in SKECHERS’ annual report on Form 10-K for
the year ended December 31, 2013 and its quarterly report on Form 10-Q
for the three months ended March 31, 2014. The risks included here are
not exhaustive. SKECHERS operates in a very competitive and rapidly
changing environment. New risks emerge from time to time and the
companies cannot predict all such risk factors, nor can the companies
assess the impact of all such risk factors on their respective
businesses or the extent to which any factor, or combination of factors,
may cause actual results to differ materially from those contained in
any forward-looking statements. The forward-looking statements contained
herein speak only as of the date on which they are made, and neither
JAKKS or SKECHERS undertakes any obligation to update any of them to
reflect events or circumstances after the date of this release.
© 2014 JAKKS Pacific, Inc. All rights reserved.
Copyright Business Wire 2014