TCC Issue 6: Basic Fun to Release a New Generation of LPS

Issue 6 - August 2nd, 2023
It's been a while since we've had an article for The Collector's Corner! This time there's some special news to share. As many of you might have heard, toy company Basic Fun! has partnered with Hasbro to revive the LPS franchise we know and love.
(Psst! We now have a follow-up article with more updates! Visit it here.)
The concept was first mentioned around October 2022, found in a news article by Toy World Magazine: 
"Licensing is set for a major expansion with new and recent partnerships announced with Basic Fun on Littlest Pet Shop and Lego on Transformers, and an expanded portfolio of content across Hasbro’s 100-year IP vault."TW Staff. "Hasbro announces plan to grow profit 50% over next three years." Toy World Magazine, 6 Oct 2022. https://toyworldmag.co.uk/hasbro-announces-plan-to-grow-profit-50-over-next-three-years/ 
Since then, the project has been officially confirmed and more information has sprouted over the course of the year!
Basic Fun's recent appearance at LPSCon 2023 made their first big reveal of what we can look forward to. Similar to the panda mascot for the 2010 logo, the new logo pet is another panda, with green eyes and the Friendliest eye symbol, and two little hearts above its eye. It's very reminiscent of the 2008 line of toys! Those who attended the convention have shared a bit more info that was discussed there:
*Gen 2 is confirmed!
*While they will be releasing original molds, they will also be making some new ones based off of what fans want to see; one they mentioned was axolotls! 
**Source: post by Starrr<333, shared by another user on this reddit post: (link)
*The new pets are "...launching in Spring 2024 (January/February 2024)!"
**Source: post by lps_raindrop_official via Instagram; this was sent as an email response by Basic Fun customer service (proof of legitimacy also shared by the user).
In an article from the PR Newswire, the Basic Fun! CEO made the following statement:
""We are specialists in 'newstalgia' and re-igniting the power of legacy brands with a robust portfolio of classic brands that have become generational favorites…We are excited for the opportunity to honor the rich history of LITTLEST PET SHOP as a heritage brand and introduce the classic to a whole new generation of today's kids and kidult collectors via immersive physical and digital play experiences."Basic Fun! Via PR Newswire. "Hasbro and Basic Fun! Ink Global Master Toy License to Relaunch Littlest Pet Shop!" PR Newswire, 15 Nov 2022. https://www.prnewswire.com/news-releases/hasbro-and-basic-fun-ink-global-master-toy-license-to-relaunch-littlest-pet-shop-301677691.html 
It's so exciting to see Littlest Pet Shop getting pushed in the right direction! With a promising outlook on the relaunch ahead, this might be the start of a rightful new generation.
The LPS page is now up and running on the Basic Fun! website. Keep up with the details by signing up for their official email updates!
( https://www.basicfun.com/littlest-pet-shop-info/ )
==Citations==
Category:Littlest Pet Shop
Category:Collector's Center
Category:The Collector's Corner