Wolterk/iStock Editorial via Getty Images

Wolterk/iStock Editorial via Getty Images

Mattel (NASDAQ:MAT ) announced that it has entered into a multi-year agreement with SpaceX (SPACE) to create and market products for both children and collectors.

The partnership, which begins in 2023, will see Mattel (MAT) begin releasing SpaceX-inspired toys under its iconic Matchbox brand. Simultaneously, astro-inspired collectibles will start to debut on Mattel Creations, Mattel's ( MAT) collaboration and direct-to-consumer platform.

"As space exploration advances more quickly than ever before, we are thrilled to work with SpaceX and help spark limitless play patterns for the space explorer in every kid," noted Mattel exec Nick Karamanos.

Mattel (MAT) is due to report earnings on July 21. See the consensus estimates for MAT and recent track record of beats and misses.