Hasbro and Basic Fun! Ink Global Master Toy License

Basic Fun!, a global marketer of toys and consumer products, announced a master toy license agreement with Hasbro for the Littlest Pet Shop brand.

Basic Fun! is expected to manufacture and distribute Littlest Pet Shop collectible figures, playsets and accessories to retailers worldwide as early as 2024.  Littlest Pet Shop collectible figurines originally launched in 1992, and experienced their first relaunch in 2005.  

“We are excited to expand our partnership with Hasbro to bring back one of the world’s most iconic and best-selling global collectible toy brands,” says Jay Foreman, chief executive officer, Basic Fun! “We are specialists in ‘newstalgia’ and re-igniting the power of legacy brands with a robust portfolio of classic brands that have become generational favorites such as TONKA, Lite-Brite, Lincoln Logs, Care Bears and K’NEX. We are excited for the opportunity to honor the rich history of Littlest Pet Shop as a heritage brand and introduce the classic to a whole new generation of today’s kids and kidult collectors via immersive physical and digital play experiences.”

“Littlest Pet Shop was a runaway success when it first launched in 1992 and again in 2005,” says Jess Richardson, vice president, global toys and games, licensed consumer products, Hasbro.

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“With Basic Fun! at the helm, we are looking forward to bringing back this beloved franchise to delight our newest fans. This move is a great example of our Blueprint 2.0 strategy in action, moving from owned and operated to a licensed-out model to unlock new categories for consumers and unleash the potential of our classic brands like Littlest Pet Shop.”