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Barbie Is Focus of Expanded Avon-Mattel Pact

May 02, 1997|(Bloomberg News)

Avon Products Inc. and Mattel Inc. said they'll introduce new Barbie dolls and other products as part of an effort to expand their joint-marketing agreement. Although terms weren't disclosed, the expanded agreement is expected to generate more than $100 million in annual sales by 1998 for Avon. The agreement builds on a relationship started last year, when Avon sold Spring Blossom and Winter Velvet Barbie dolls in the U.S., generating $40 million in sales. The companies plan to sell in the U.S. two new Barbie dolls that were designed exclusively for Avon. Avon and Mattel also plan to market a wider range of toys and licensed products. Shares in New York-based Avon fell 75 cents to close at $61; El Segundo-based Mattel's shares fell 50 cents to close at $27.375. Both trade on the NYSE.

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