Elon Musk Wants to Conquer a New Business
On the 54th anniversary of the first manned landing on the moon, Elon Musk’s SpaceX and Mattel plans announced to conquer a new universe…toys.
The companies offered few details of their plans or products, which leaves open the possibility that one of the items could be an action figure of the world’s richest man.
It was probably only a matter of time before toy SpaceX rockets and space stations hit the toy store shelves. There is, after all, a Tesla (TSLA) – Get Tesla Inc. Report kids cyberquad selling for $1,900.
Toy producer Mattel (MAT) – Get Mattel Inc. Report announced that it has inked a multiyear deal with Elon Musk’s SpaceX. The very brief press release says that a line of toys and collectibles is to be released under Mattel’s Matchbox brand in 2023 but stays silent on precise timelines, product details and prices.
“We take pride in our ability to create products and experiences that honor cultural moments and inspire humankind,” Nick Karamanos, Mattel’s SVP of entertainment partnership at Mattel, said in a statement. “As space exploration advances more quickly than ever before, we are thrilled to work with SpaceX and help spark limitless play patterns for the space explorer in every kid.”
The announcement came on the anniversary of the Apollo 11 landing on the moon on July 20, 1969.
What Type Of Toys? No One Really Knows
This type of secrecy is customary for companies run by Musk — Tesla notoriously disbanded its PR department and likes to surprise fans and investors with major announcements.
While its popularity ebbs with different generations, everything having to do with space has been prime territory for the toy industry since the earliest days of the Space Age in the 1950s — Mattel launched its first astronaut Barbie doll in 1965 and, this spring, sent two Barbie dolls to space with the International Space Station and a team of astronauts.
Scroll to Continue
Mattel’s popular Hot Wheels car line even offers a line of Mars exploration rovers.
A SpaceX and Mattel collaboration will, presumably, draw upon everything from rockets and rovers to space travelers themselves to create toys and collectible figurines.
What Else Is In The Stars?
Founded by Musk in 2002, SpaceX has developed reusable rockets that significantly lower launch costs. It’s by far the most successful private space company so far thanks to a number of key achievements such as the reusable Falcon 9 rocket.
It has also run across a number of challenges as well. At the start of July, an explosion at the base of a test booster, rocked the launch facility for the company’s planned Mars rocket.
“At SpaceX, we believe that a future in which humanity is out among the stars is fundamentally more exciting than one in which we are not,” SpaceX VP Brian Bjelde, Vice President at SpaceX, said in a statement. “We look forward to working with Mattel to help inspire the next generation of space explorers and enthusiasts.”
SpaceX currently has an online store in which it sells hats, sweatshirts, water posters, key chains and other accessories. The closest thing to a toy would be the sticker set of the ISS and the Dragon Vehicle for $15.
Mattel, henceforth, has recently been given a “buy” rating from Goldman Sachs analyst Michael Ng due to “demand drivers in TV and film content releases, the returning Disney Princess toy license in 2023, and new product innovation.”
Back in January, the toy company snatched back the license to make characters based on Walt Disney (DIS) – Get The Walt Disney Company Report‘s princess from competitor Hasbro (HAS) – Get Hasbro Inc. Reportwhich had it since 2016.