(COMTEX) B: Toymax 'Catches' Hot Pokemon License for Candy Line; Toym
B: 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.
About Nintendo Co. Ltd.
Nintendo Co. Ltd. of Kyoto, Japan, is a worldwide leader in the
creation of interactive entertainment. To date, Nintendo has sold more
than one billion video games worldwide, has created such industry icons
as Mario and Donkey Kong, and launched franchises like Pokemon and the
legend of Zelda. Nintendo manufactures and markets hardware and
software for its popular video game systems, including the Nintendo 64
and Game Boy -- the world's best-selling video game system. As a wholly
owned subsidiary, Nintendo of America Inc., based in Redmond, Wash.,
serves as headquarters for Nintendo's operations in North America.
About 4Kids Entertainment Inc.
Headquartered in New York City, 4Kids Entertainment Inc.
(Nasdaq:KIDE) is a vertically integrated entertainment company whose
wholly owned subsidiaries include: Leisure Concepts Inc., a leader in
domestic and international merchandise licensing and product
development; 4Kids Productions, a television, film and home video
production company, and Summit Media, a domestic and international
television distribution, media buying and planning company.
About Toymax
Toymax (www.toymax.com) is a children's consumer products company
that creates, designs and markets innovative and technologically
advanced toys and leisure products. Toymax products promote fun and
creative play and are available under several brands: Toymax(R) toys,
such as R.A.D.(tm) Robot, Mighty Mo's(tm) vehicles, the award-winning
Laser Challenge(tm) and Creepy Crawlers(R) brands and a new line of
educational hand-held and tabletop electronics under the Jumpstart(tm)
brand licensed from Knowledge Adventure Inc., and the Math Blaster(tm)
brand licensed from Davidson & Associates Inc.; Go Fly A Kite(R) kites,
windsocks and banners; Candy Planet(tm) candy products; and Monogram(R)
gift, novelty and souvenir products. Toymax is headquartered in
Plainview, N.Y., and its products are available at retailers worldwide.
The statements made in this press release contain certain
forward-looking statements. The Company cautions readers that all
forward-looking statements are necessarily speculative and accordingly
undue reliance should not be placed on any such forward-looking
statements, which only speak as of the date made. Actual results may
vary materially from those anticipated by the Company for a variety of
reasons, including, without limitation, changes in retail sell-through
of the Company's products, differences between bookings received from
customers and actual orders received, changing consumer demand for its
products, a reliance on new product introductions, the dependence on a
limited number of customers, seasonal and quarterly fluctuations, the
dependence on a limited number of product lines and the loss of
existing licenses or the inability to renew or extend licenses under
favorable terms. The risks highlighted herein should not be assumed to
be the only things that could affect the future performance of the
Company. The Company undertakes no obligation to publicly release the
results of any revisions to these forward-looking statements, which may
be made to reflect events or circumstances after the date hereof or to
reflect the occurrence of unanticipated events. Readers are referred to
the documents filed by the Company with the Securities and Exchange
Commission, specifically, the most recent reports filed under the
Securities Exchange Act of 1934 and the registration statement filed
pursuant to the Securities Act of 1933, which identify important risk
factors.
NOTE TO EDITORS: In the term "Pokemon," there is an accent mark above
the "e". It was removed for transmission purposes only.
Copyright (C) 1999 |
