Mattel gets Disney princess toy deal, including 'Frozen' dolls

Jan. 26 (UPI) -- After losing its Disney princess lineup in 2016, Mattel has won back the license to make Disney princess toys, including Anna and Elsa, popular Frozen dolls.

In 2016, Mattel lost the license to rival Hasbro, which offset a period of financial struggle for Mattel.

But on Wednesday, Mattel's shares jumped 8% after breaking the news of their new license.

"We are incredibly proud to welcome back the Disney Princess and Frozen lines to Mattel," President and CEO Richard Dickson told CNN.

The new products will begin selling by the beginning of 2023.

Hasbro also announced that it extended its relationship with Lucasfilm, renewing the license deal for the Star Wars franchise, along with Indiana Jones.

Currently, Mattel makes toys based on characters from two of Disney's Pixar franchises: Toy Story and Cars.

Mattel won the license to making Elsa and Anna, Jasmine from Aladdin, along with Snow White, Cinderella, Ariel, Moana toys and it also includes dolls from the live action films of Beauty and the Beast, Aladdin, The Little Mermaid, Mulan and Cinderella.