One more sign K-Pop is here to stay, a contract with Mattel

FILE- In this Dec. 14, 2018, file photo members of South Korean music band BTS pose for photos on the red carpet of the Mnet Asian Music Awards (MAMA) in Hong Kong. Mattel has signed a licensing deal with BTS. Shares surged more than 8 percent in Monday, Jan. 7, 2019, afternoon trading. (AP Photo/Kin Cheung, File)

NEW YORK — The trappings of success continue to arrive for K-pop sensation BTS, the latest a contract with the toy company Mattel which secured rights to produce dolls of the boy band.

And Mattel is not beyond riding those K-pop coattails. Shares of Mattel Inc. spiked almost 9 percent Monday, a day after the toymaker announced a global licensing agreement that also includes collectible figures and games.

The South Korean boy band, made up of members RM, Jin, SUGA, j-hope, Jimin, V and Jung Kook, last year became the first Korean pop group to reach No. 1 on the Billboard top 200.

BTS is an acronym of Bangtan Sonyeondan or "Beyond the Scene." The band debuted in June 2013.

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