NEW YORK, June 21 (UPI) -- Walt Disney Co.'s consumer products chief told a New York audience the company's retail sales might hit $23 billion worldwide this fiscal year.
Andy Mooney took over Disney's consumer products in 1999 after the division had begun losing money. After selling off and restructuring the stores, he established Princesses as a new product line, Daily Variety reported.
Princess sales will be up 15 percent -- reaching $3.4 billion by the end of the fiscal year on Sept. 30 -- Mooney told attendees at a New York trade show.
"We're confident that the worlds of princesses and fairies are two very different play experiences," Mooney said.
At the trade show, Mooney talked about the company's newest consumer product -- Disney Fairies -- which targets girls ages 4 to 8. Fairies could be a $1 billion business within five years, Mooney predicted.
The Fairies' promotion begins with the launch of the film "Tinker Bell" in 2007. Three more fairy films, produced by DisneyToon Studios are expected to follow.