JAKKS Pacific - NASCAR Toys
MALIBU, Calif. -- April 23, 2003 -- JAKKS Pacific, Inc. announced today that it will produce a toy line based on the popular sport of NASCAR(R) and two of its top racing teams, Hendrick Motorsports(R) and Joe Gibbs Racing(R).
Under the license, multiple JAKKS Pacific divisions, including Road Champs and Flying Colors, will develop, manufacture and distribute a toy line which is slated to include radio control, infrared and remote control vehicles, action figures, Tongue Tape(TM) candy, role play, slumber bags, backpacks, lunch kits and kites.
JAKKS Pacific will produce product based on the following licenses:
- Hendrick Motorsports:
- Jimmie Johnson and his No. 48 Lowe's(R) race car
- Jeff Gordon and his No. 24 Du Pont(R) race car
- Joe Gibbs Racing:
- Tony Stewart and his No. 20 Home Depot(R) race car
- Bobby Labonte and his No. 18 Interstate(R) Batteries race car
"NASCAR(R) is the most competitive and elite racing series in the world and we could not be more pleased to have secured this significant license for JAKKS Pacific," said Stephen Berman, president and COO, JAKKS Pacific. "The fan base is enormous and the demand for high-quality, realistic NASCAR merchandise at retail is certainly there. JAKKS Pacific, Inc. is looking to create a complete new line of race merchandise that fans of all ages will want to play with and own."
JAKKS Pacific has signed an initial two-year agreement with the teams, and expects to market the products throughout the United States and Canada beginning in Fall 2003.
NASCAR is one of America's premier sports brands, ranking second among all sports in television ratings and third in licensed product sales. Also, 17 of the top 20 highest-attended sports events in 2002 were NASCAR races. Research shows that 75 million American adults are NASCAR fans, with 40 million registering as hardcore "passionate" fans. NASCAR sanctions more than 2,200 events at 124 tracks across America, including the NASCAR Winston Cup Series, NASCAR Busch Series and NASCAR Craftsman Truck Series, along with the nationwide NASCAR Weekly Racing Series presented by Dodge.
About JAKKS Pacific, Inc.
JAKKS Pacific, Inc. is a multi-brand company that designs and markets a broad range of toys and leisure products. The product categories include: Action Figures, Arts & Crafts Activity Kits, Stationery, Writing Instruments, Performance Kites, Water Toys, Sports Activity Toys, Vehicles, Infant/Pre-School, Plush and Dolls. The products are sold under various brand names including Flying Colors(R), Road Champs(R), Remco(R), Child Guidance(R), Pentech(R), Trendmasters(R), Toymax(R), Funnoodle(R) and Go Fly a Kite(R). The Company also participates in a joint venture with THQ Inc. that has exclusive worldwide rights to publish and market World Wrestling Entertainment(TM) video games. For further information, visit www.jakkspacific.com.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: This press release contains forward-looking statements. Such statements reflect the current views of the Company with respect to future events and are subject to certain risks, uncertainties and assumptions. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual future results or events may vary materially from those described herein.