To infinity and beyond: Mattel announces toy deal with SpaceX

Mattel, Inc. announced Wednesday that it has entered into a multi-year, worldwide agreement with SpaceX to create

a line of rocket- and astronaut-themed toys "to cater to the inner explorer in every child."

Not only is this targeted at younger age groups but also to collectors. The company said it will

simultaneously debut space-inspired collectibles on Mattel's Creations, a direct-to-consumer

platform often offering limited-edition, higher-end toys and other items.

Mattel Inc (MAT). was founded in 1945 and has been the leading global manufacturer of popular

childhood toys from Malibu Barbie to Hot Wheels Monster Trucks. Headquartered in El

Segundo, California, the company is valued at about $7.96 billion.

Yet the alliance with Elon Musk's aerospace company is likely something that consumers did not expect.