Yahoo Finance JAKKS Pacific (JAKK) Partners With Aniplex for Demon Slayer
JAKKS Pacific, Inc.'s JAKK global costume division, Disguise, Inc., entered into a multi-year licensing agreement with Aniplex of America. This agreement covers rights for the manga series-based Demon Slayer: Kimetsu no Yaiba in North America, Australia, New Zealand, LATAM, Ireland and the U.K.
Per the contract, Disguise will design, develop and manufacture costume accessories inspired by the popular anime series. New styles are expected to be available in retail stores and online by 2025.
The anime series earned widespread acclaim for its gripping storyline, well-developed characters and stunning animation from the renowned studio ufotable. The movie Demon Slayer -Kimetsu no Yaiba- The Movie: Mugen Train set the record for the biggest opening of any foreign-language film in North America and became one of the highest-grossing anime films worldwide.
The anime has quickly become a sensation among fans and retailers. The company is optimistic about the debut line of costume accessories, which is expected to delight fans and retailers.
The company's subsidiary, Disguise, has established a 37-year legacy in the costume industry, demonstrating significant global growth and strong partnerships with licensors and distributors. The company is optimistic about continuing to innovate and distribute costume products worldwide.
Focus on Licensing Partnerships Bode Well
The company collaborates with renowned licensing partners, including The Walt Disney Company, Marvel, Pixar, DC Comics, Warner Bros., NBC Universal and others. JAKKS Pacific secured rights for Hasbro in North America and the United States and LEGO and Minecraft.
On Apr 08, 2024, JAKK announced a collaboration with Epic Story Media to unveil an extensive content and licensing initiative centered around the new intellectual property, Wild Manes. JAKKS Pacific's outlook for 2024 and beyond is promising. JAKKS Pacific is gearing up to introduce a comprehensive line of outdoor products, including chairs, umbrellas, canopies, beach accessories, inflatable pool floats, sand and splash mats, foldable wagons and extensive lines of dolls and doll accessories.
The company's strategic expansion into new categories and acquisition of licenses aim to enhance its products, resulting in thriving, evergreen businesses. To capitalize on this success, JAKKS Pacific is broadening its distribution channels.
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The company’s shares have declined 21.5% in the past year against the industry’s growth of 7.3%. Although the stock has underperformed the industry, its solid international footprint, focus on licensing partnerships and collaborations with popular brands and movie franchisees are likely to drive the performance.
Zacks Rank & Key Picks
JAKKS Pacific currently carries a Zacks Rank #5 (Strong Sell).
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