Florida’s Basic Fun! has turned the lights back on at the Littlest Pet Shop to fulfill a new global master toy deal with IP owner Hasbro.

Basic Fun! will manufacture and distribute a new line of toys, playsets and accessories to retailers worldwide in 2024 based on the brand that revolves around collecting and customizing all manner of pets, from dogs and cats, to cows and sheep. 

 The company is aiming to introduce Littlest Pet Shop to a new generation of kids (ages four and up) and also re-engage with adult collectors, said CEO Jay Foreman in a release.

Kenner Products first launched LPS in 1992, and then it made a market comeback in 2005 after Kenner merged with Hasbro in 2000. The brand continued to be revamped with new product ranges until it was shelved in 2018. To date, LPS features more than 3,000 collectible pets and has generated three CG-animated TV series (1995, 2012, 2018). 

Hasbro is shifting from managing its own brands to licensing them out to partners, said VP of global toys & games and licensed consumer products Jess Richardson in a release. The company unveiled its new strategy in October, with the goal of increasing profits by 50% and reducing costs by more than US$250 million by 2025.