After losing a coveted deal to make dolls based on Disney’s “Frozen” and other princess films to rival Hasbro last month, El Segundo toy maker Mattel announced Tuesday that it has partnered with Universal Pictures to develop a line of toys based on the “Despicable Me” movies.
Through the agreement with Universal Partnerships & Licensing, Mega Brands Inc., a Canadian toymaker Mattel acquired in February, will introduce construction sets with “Despicable Me 2” characters. The new toys will hit stores in December.
The partnership comes in the wake of recent setbacks. Last week, Mattel announced third quarter earnings that missed estimates as a result of a steep decline in Barbie sales. The disappointing numbers came just after Mattel lost the valuable rights to make dolls from the blockbuster film “Frozen,” as well as to the Disney Princess characters.