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Sunday, May 28, 2023

MGA Reports Higher Revenue

MGA Entertainment Inc. recorded a 23 percent revenue gain last year as sales of its core toy lines saw substantial growth, the company said The Van Nuys company said sales of its core brands, including its Little Tikes outdoor play line and its Lalaloopsy rag dolls, sold well. The company also said its new Bratzillaz line of Bratz dolls was a hit with young girls. The sales growth ranked first among the top 10 toy manufacturers, according to a report by New York research firm NPD Group cited by MGA. “I am proud to salute our talented and dedicated team at MGA and our family of outstanding retailers nationwide in contributing towards this achievement,” said Chief Executive Isaac Larian in a statement. The results came in a year in which an eight-year battle with rival Mattel Inc. over the origin of the Bratz dolls drew to a close in MGA’s favor. The El Segundo company was ordered to pay MGA $137 million in attorneys’ fees. However, a related $172 million damage award against Mattel was set aside. MGA was founded in 1979 and is the largest private independent to company in the United States

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