Mattel has signed a multi-year deal with Elon Musk’s SpaceX to create a line of space-inspired toys, the companies announced Wednesday.
“As space exploration advances faster than ever, we’re thrilled to be working with SpaceX and helping create the limitless space explorer play experience in every child,” Nick Caramanos, Mattel’s senior vice president of entertainment partnerships, said in a press release. .
Financial terms of the deal were not disclosed.
The El Segundo, California-based toy company plans to launch its SpaceX product line in 2023. The partnership was announced ahead of the anniversary of the first human landing on the moon in 1969.
SpaceX has been selling merchandise through its own website for a long time, but those merchandise tends to be limited to shirts, jackets, and other accessories like hats and bags.
With the help of Mattel, SpaceX can participate in projects such as plush toys, dolls, or building kits with an experienced toy maker. The collectors 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 established fan bases are becoming increasingly important.
This isn’t the first time Mattel and Musk have teamed up to make toys. In early 2020, Mattel created two remote-controlled vehicles based on the Tesla Cybertruck.
The new partnership comes just months after Mattel sent two Barbie dolls into space as part of a collaboration with the International Space Station National Laboratory to encourage girls to consider aerospace, engineering and STEM careers.
The toy company, which has experienced a renaissance over the past four years under the leadership of CEO Ainon Kreitz, has secured a number of strategic licensing deals to support its business. Mattel announced in January that it had reclaimed the lucrative Disney Princess license from competitor Hasbro and would begin selling toys based on beloved House of Mouse princess characters such as Anna, Elsa and Merida in 2023.
Mattel declined to comment further as it is expected to release its second quarter results after Thursday’s call.
A spokesperson for SpaceX also did not immediately respond to a request for comment.