|
News Release
FOR: Galoob
Toys, Inc.
500 Forbes Blvd.
South San Francisco, CA 94080
CONTACT:
Karen Levine or Suzanne O'Brien
AT: Robert Marston And Associates
(212) 371-2200
FOR IMMEDIATE
RELEASE
GALOOB TOYS
WINS 'SPICE GIRLS' LICENSE
SOUTH SAN
FRANCISCO, Calif., October 9, 1997 - - Galoob Toys, Inc.
(NYSE: GAL) today announced that it has won a worldwide licensing
agreement to produce fashion dolls based on the phenomenally popular
five-woman British pop group, Spice Girls. The Company's initial
offering will be five 11-1/2-inch-tall fashion dolls. Galoob will rush
initial quantities of the dolls into the U.K. market by December in
order to capture all the Spice Girls frenzy--including the excitement
surrounding the premiere of their first motion picture--on their home
turf. Initial shipments of dolls will also occur this year in Europe and
Canada, with wider distribution including the U.S. to occur as soon as
sufficient quantities of the dolls can be produced.
The Spice
Girls have had number one records in more than 30
countries, with estimated sales of over 18 million albums and 15 million
singles. In the U.S., their first album and single each went to number
one. The album, "Spice," has been certified triple platinum,
and the
single, "Wannabe," has sold more than a million copies. They
have also
generated impressive levels of sales of other licensed merchandise
worldwide, including fashion accessories, trading cards, videos and
books.
Said Gary
J. Niles, Galoob's executive vice president of marketing
and product acquisition, "The Spice Girls are among the hottest pop
phenomena in the world, and they appeal to a demographic that is ideal
for sales of our fashion dolls. We are delighted to be able to join the
tidal wave of 'Girl Power' with our Spice Girls dolls as they embark on
their first tour and take the world by storm."
Galoob Toys,
Inc. designs, develops, markets and sells high quality
toys worldwide. For more information about the Company and its products,
visit Galoob's World Wide Web site at http://www.galoob.com.
|