Mattel, Hasbro fall as Amazon teases private-label toy launch
Mattel and Hasbro fell in trading Monday amid evidence that e-commerce giant Amazon is angling for a larger share of the toy market during the holiday season.
Amazon posted product pages for several toys for toddlers and young children on Monday through its “AmazonBasics” line, TJI Research reported. Postings include a “climb and crawl play set” and a “toy storage organizer.” Shipping for the products was not immediately available.
Amazon did not immediately return a request for comment.
Mattel shares dropped more than 3 percent on the news. Hasbro shares fell more than 1 percent.
The two toymakers have struggled in recent months after the collapse of Toys R Us, which liquidated hundreds of stores earlier this year after failing to find a buyer during bankruptcy proceedings. Toys R Us had been a key retail partner for both companies.
Amazon is one of several companies vying to capitalize on Toys R Us’ absence. The Seattle-based company sent out its first holiday catalog to millions of customers in November.
