Mary-Kate and Ashley's Stock Is Up
Those twin titans of TV and business, Mary-Kate and Ashley Olsen, both 16, and their Dualstar Entertainment Group have launched their own product brand, called “Mary-Kate and Ashley in ACTION!,” aimed at their core group of young girl fans ranging in age from about 2 years old to their early teens.
Reuters reports that the merchandise being sold under the label will include everything from the traditional books and videos, to new products such as greeting cards and toothpaste.
The Olsens already oversee a tremendous business empire consisting of videos, books, apparel and fashion accessories with 2002 total sales nearing a staggering $1 billion, says the news service.
“The Mary-Kate and Ashley in ACTION! brand is a new model for Dualstar,” said Los Angeles-based attorney Robert Thorne, a co-founder with the Olsens in the business. “(It) is part of our long-term strategy to build additional brands and properties for the Mary-Kate and Ashley family of brands.”
Already, Reuters reports, the new brand is being promoted on Kellogg Co.’s Corn Pops and Apple Jacks cereal boxes currently on store shelves.
Michael Stone, retail chairman of The Beanstalk Group, which licenses the Olsens’ brand for clothing and accessories sold in Wal-Mart Stores Inc., explained the popularity of the twins as follows: “They are wholesome and down-to-earth. The girls in their demographic age group look at Mary-Kate and Ashley and they believe they can be Mary-Kate and Ashley.”