Mattel, Inc.'s (MAT) Hot Wheels Wednesday announced a new licensing partnership with Toy State, a manufacturer of licensed and highly stylized lights and sound toy vehicles. The agreement, which begins this year and runs through 2016, will invite Toy State to design and build a new line of over-the-top lights and sound and remote controlled Hot Wheels-branded cars.
Toy State will develop high-octane custom versions of Hot Wheels' R/C and lights and sound toys under the new agreement.
Price is currently being finalized and product is scheduled to be on shelves beginning in 2014. Toy State's core portfolio, which includes Road Rippers and Gear Heads, as well as Cat, Cat Preschool, DUB Garage and James Bond 007, will now expand to include the Mattel brand.
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