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TFW2005 member analogue brings us news of an interview with Hasbro CEO Brian Goldner via CNBC wherein he discuss about how the toy manufacturer is dealing with the current situation of the Coronavirus emergency. CNN.com highlights some declarations from this interview about Hasbro’s production and factories in China:

Brian Goldner told CNBC Monday morning that it expects to be back at full production capacity in China by the end of this week. What’s more, he said demand in China — as well as the rest of the world — is strong. That’s especially the case for Play-Doh and other toys for young kids who have been largely stuck inside during the coronavirus pandemic.

Shares of Hasbro (HAS) surged more than 15% Monday on Goldner’s comments, as investors bet that the company will report solid first-quarter sales in April.

Check out the full interview at CNBC.

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Hasbro offices worldwide, including its Rhode Island office, will be closed at least until April 1st due to COVID-19 Pandemic.

“At this time, no Hasbro employees have tested positive for COVID-19,” company spokeswoman Julie Duffy said in an email to The Providence Journal Friday. “We have made this decision in an abundance of caution and in the best interest of our employees and the communities in which we operate.”

Providence Journal also mentions that Hasbro did not disclose any work-from-home strategies unlike other offices in the area.

We currently do not know of any contingency or mitigation plans from Hasbro, but it is likely that the toy business will be affected negatively to some extent.

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Ending the current partnership with Omnicom’s OMD, Hasbro has entered a new partnership with GroupM for the global toy giant’s advertisement and media requirements.

“We’ve made the decision to consolidate media buying for Hasbro under a single agency in order to both drive efficiencies and to provide the best tools and resources for our current collective needs across our global business,” a Hasbro representative said. “After a thorough review of the agency landscape and our current partnerships, moving forward, all of our global markets will be resourced exclusively through GroupM.”

Hasbro will spend a whopping $225 million annually, for their advertisements.

Back in 2013, Hasbro enlisted OMD after what was declared as an ‘extensive review process’ at the time. Participants in the 2013 review included then-incumbent Interpublic Group of Cos.’ Initiative, which had only won the business from OMD three years earlier. Now, the reins are with GroupM; who is the world’s largest advertising media company, by billings. Headquartered in New York City, the company has over 32,000 employees and 400 offices in over 100 countries.

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We have received a word that Monogram International has acquired license to manufacture G.I. Joe branded keyrings and other merchandise for the US market.

Monogram previously collaborated with Hasbro to manufacture such items for My Little Pony: Friendship Is Magic, Transformers and Dungeons & Dragons franchises.

Judging by the previous products which came by, we can expect to see keyrings, bank busts and PVC figurines.

It is likely that the characters will be based off on the G.I. Joe: Classified designs.

You can check some samples from other franchises, after the jump.

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After months of negotiations and even after a government investigation, Hasbro has finally acquired Entertainment One (eOne for short) for a whopping US$ 3.8 Billion.

The new company (dubbed as ‘One Hasbro‘) will produce entertainment content based on Hasbro properties such as Transformers, Power Rangers, G.I. Joe, My Little Pony and many others.

“We are excited about what we can do together and see tremendous opportunity for shareholder value creation through this acquisition,” said Brian Goldner, Hasbro chairman and chief executive officer. “Our businesses are highly complementary with substantial synergies and a great cultural fit. The addition of eOne accelerates our blueprint strategy by expanding our brand portfolio with eOne’s beloved global preschool brands, adding proven TV and film expertise, and creating additional opportunities for long-term profitable growth. We are pleased to welcome the incredibly talented eOne team to our Company.”

You can check out the full Press Release, after the jump.

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Loot Crate is announcing a wonderful news for Joe fans. G.I. Joe has been selected as the theme of the month for the Loot Crate DX bundle.

In addition to G.I. Joe, Marvel’s Guardians Of The Galaxy and Scooby-Doo will also be featured under Squad DX.

Official announcement:

“We’re putting together a ragtag SQUAD of epic gear from the greatest teams in pop culture for this month’s #LootCrateDX, including @Marvel’s #GuardiansOfTheGalaxy, #ScoobyDoo, & #GIJoe + a fun BONUS item! You in?”

You must apply for the bundle on or before November 19th via Loot Crate’s official website.

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Hasbro CEO Brian Goldner spoke to CNBC and Yahoo Finance yesterday, regarding the future of the company. Among the discussion points was the mitigation and contingency plan for the eventual US tariff increase to be imposed to toys manufactured in China.

As a temporary solution Hasbro is planning to pass-on the price increase to the customer and therefore safeguading the retailers.

“We’re having conversations with our retailers and of course we will pass along those costs.”

The company hopes to “effectively pass on those costs” by mitigating the margin internally. But “ultimately, [they] will be borne by the consumer over time.”

In long term, Hasbro is planning to make changes to the products to reduce the cost.

“With time, you can redesign and redevelop your product lines with those tariffs in mind…“

Hasbro is taking action to shift as much production out of China to other countries as possible ahead of this holiday season. About 67% of Hasbro’s merchandise is now sourced from China, down from 90% a few years back and 75% or so entering 2019. By the end of 2020, Goldner expects to have only 50% of Hasbro’s inventory reliant on China.

However, the toy giant is not planning to raise toy prices for the 2019 Holiday Season.

“We certainly want to ensure that we’re not raising prices on products right before the holidays. We would hope we would continue to have a productive dialogue and find other solutions to the situation.”

Increased tariffs will effect from December 15th onward.

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The Finest 2019 Charity Campaign!

“Do you love G.I. Joe, service dogs, and helping veterans? You’re in the right place!

For the fourth consecutive year, The Finest: A G.I. Joe Costume Club is proud to partner with K9s For Warriors – America’s largest provider of service dogs to veterans suffering from PTSD and other trauma as a result of military service post-9/11!

Since 2011, K9s For Warriors has graduated 524 veterans, and more than 1,000 dogs have been rescued! Every warrior that walks through the door is provided with a Service Canine, equipment, training, certification, seminars, legal instruction, vet care, housing, home cooked meals, unconditional love and listening, and a lifetime of services (including available lifelong healthcare for their dogs). The K9s program is 100% free for the veteran!

The Finest is proud to have many active duty service members and veterans in our ranks, and since our club was founded in 2007, we’ve strived to support charity organizations that help military service members after they return home in an impactful way. We are excited to continue supporting K9 For Warriors, but we need your help!”

Show your support here: The Finest 2019 Charity Campaign!

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After a successful 2nd Quarter in 2019, Hasbro CEO Brian Goldner spoke to CNBC to further clarify a statement made during their financial call.

Due to the recent Trade War between United States and China, Hasbro has decided to reduce its toy production in China and keep it under 50% by 2020.

The company currently produce 20% of its products in US while 67% comes from China.

“We’re increasingly spreading our footprint and adding new geographies for production globally,” Hasbro CEO Brian Goldner said during an earnings call Tuesday. “That includes new production in India and Vietnam.”

You can check out Mr. Goldner’s interview, after the jump.

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