If you happened to be tuned into Hasbro’s investor Day event last month, then you may have caught an early reveal that we reported on here at The Toy Book: Littlest Pet Shop is getting a reboot.
Now, Basic Fun! and Hasbro have formally unwrapped their plans to relaunch the classic Kenner brand to retailers worldwide “as early as 2024.” Under an extended licensing pact with Hasbro, Basic! Fun becomes the master toy partner for the Littlest Pet Shop brand. The company is expected to develop a wide range of products, including collectible figures, playsets, and accessories.
“We are excited to expand our partnership with Hasbro to bring back one of the world’s most iconic and best-selling global collectible toy brands,” says Basic! Fun CEO Jay Foreman. “We are specialists in ‘newstalgia’ and re-igniting the power of legacy brands with a robust portfolio of classic brands that have become generational favorites such as Tonka, Lite-Brite, Lincoln Logs, Care Bears, and K’NEX. We are excited for the opportunity to honor the rich history of Littlest Pet Shop as a heritage brand and introduce the classic to a whole new generation of today’s kids and kidult collectors via immersive physical and digital play experiences.”
Kenner launched Littlest Pet Shop 30 years ago to much success. The line continued to evolve with periodic breaks until a formal relaunch in 2005. Beyond the toy department, Littlest Pet Shop has spawned several animated TV series, video games, and a full range of licensed products.
“Littlest Pet Shop was a runaway success when it first launched in 1992 and again in 2005. With Basic Fun! at the helm, we are looking forward to bringing back this beloved franchise to delight our newest fans,” says Jess Richardson, vice president, global toys & games, licensed consumer products at Hasbro. “This move is a great example of our Blueprint 2.0 strategy in action, moving from owned and operated to a licensed-out model to unlock new categories for consumers and unleash the potential of our classic brands.”
For more on what Basic Fun! is doing in the collectibles space, check out “The Collectibles Evolution” in the 2022 Innovation & STEM issue of The Toy Book.
