Fans of the soon to be released Baby Yoda toy merchandise, might have to wait longer than expected to bring home the adorable alien. Concerns about the coronavirus are beginning to affect toy manufacturers including Hasbro and their production of this year’s hot ticket item.
What's happening:
- It appears that the coronavirus may have an effect on the production of toys for companies such as Hasbro and their soon to be released “Baby Yoda” items that have sold out in pre-orders.
- With the entire globe on alert as health officials try to control the spread of the disease, several manufacturers in China and other parts of the world have been forced to shut down.
- However while Hasbro’s Chinese factories are up and running, the New York Post writes that Hasbro has confirmed supply shortages due to the outbreak will setback production on Baby Yoda toys.
- Industry expert and CEO of toy review site TTPM, Jim Silver says that the worst is still to come noting that consumers and shareholders will begin to feel the effects of the delays if things don’t return to normal by mid summer.
- New York Post says, “The threat of insufficient raw materials for the toys, namely resins and plastics available only in China, has become the most significant concern.”
What they’re saying:
- TTPM.com CEO Jim Silver: “If things aren’t normal by the time June and July roll around, there will be shortages on a litany of toys.”
- Jim Silver: “There was difficulty in obtaining some of these raw materials or the same quantity they want to get. He anticipates a production decline of 5% to 10% due to coronavirus, but claims that Hasbro is “close to being able to ship what they originally projected.”
- Hasbro CFO Deborah Thomas: “We are working to mitigate the impact of our manufacturing partner factories being closed longer than anticipated, as well as to reschedule the shipments we have not been able to make.”
- Hasbro in regulatory filing says of the virus: “could have a significant negative impact on our revenues, profitability and business.”
ICYMI:
- Fans were first introduced to “The Child” (whom they dubbed Baby Yoda) in Disney+’s Star Wars series The Mandalorian. In an effort to keep the character a surprise, Disney did not manufacture any merchandise featuring The Child until after the series premiered.
- Since then, they’ve licensed the character to Hasbro, Mattel, Funko, and Build-A-Bear who are all planning to release merchandise with the green alien in the coming months.