TMAX news just hit and so did volume - news with POKEMAN! small float.
Toymax 'Catches' Hot Pokemon License for Candy Line; Toymax's Candy Planet Co. to Create Pokemon Character Treats and Candy Products
PLAINVIEW, N.Y., Sep 22, 1999 (BUSINESS WIRE) -- Candy Planet Co., a
division of Toymax Inc., a wholly owned subsidiary of Toymax
International Inc. (Nasdaq: TMAX), today announced a licensing agreement
with Nintendo of America Inc. through Leisure Concepts Inc., the
licensing division of 4Kids Entertainment (Nasdaq: KIDE) to create
Pokemon(tm) candy products, available this fall.
Candy Planet unveiled the line to strong trade reaction at the June
National Candy Expo in Chicago.
The line will include Pokemon candy and gum products with collectible
stickers and tins, plus gummi fruit treats in the shape of Pokemon
characters and candy dispensers.
"A key part of Toymax's growth strategy is to penetrate new markets in
year-round categories and continue to establish relationships with
recognized brand names and character," said Steven Lebensfeld,
president of Toymax. "Securing this coveted Pokemon license fits
perfectly into the Candy Planet goal to develop unique products that
capture the personality of the hot licenses."
The Pokemon phenomenon started in Japan in 1996 and in the first 18
months became a $4 billion property. Pokemon made its way over to the
U.S. in 1998, with the original Pokemon Game Boy game pak. Pokemon
titles account for four of the top six current best-selling video game
titles (GameWEEK Magazine, September 1). The animated television series
is the number one rated kids' show on the WB. Pokemon now has more than
100 licensed companies and has generated more than $5 billion to date
in worldwide revenues -- almost as much as the total U.S. video game
industry in 1998. The Pokemon consumer products line includes games,
toys, trading cards, clothing and even snack food from such well known
manufacturers as Hasbro (NYSE: HAS) and Scholastic Books (Nasdaq: SCHL).
The craze keeps growing as young consumers take the Pokemon slogan
"Gotta catch 'em all!(tm)" to heart, and Warner Bros. has just
announced that it will bring the first animated Pokemon full-length
feature "Pokemon: The First Movie" to North American audiences November
12.
"Pokemon is now a huge hit here in the U.S., combining all of the
elements that girls and boys love: a fantasy world with 150 lovable
imaginary creatures, each with special powers or abilities, featured in
products offering collectibility, trading, role-playing and classic fun,
" said Al Kahn, Chairman and CEO of 4Kids Entertainment Inc. "We
believe Toymax has a strong understanding for maximizing the essence of
the Pokemon license, and we are excited to work with the team at Candy
Planet to make the Pokemon brand even more accessible to kids."
Candy Planet created a stir at the June National Candy Expo in Chicago
when it unveiled the Pokemon line and showcased its new WWF-themed
interactive and classic-style candy and gum products featuring popular
personalities from the WWF's well-known array of superstars. According
to the National Confectioners Association (NCA), which sponsors the
candy show, the demand for novelty candy has grown 35 percent in the
last four years, with the 5-to-14 age group influencing 40-45 percent
of total candy and gum sales.
The Pokemon Candy Planet products will be available this fall at mass
market, toy and other specialty retailers nationwide with retail prices
from $0.99 to under $10.
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