Mattel is Living in a Barbie World and It’s Beautiful
We are living in a Barbie World as Mattel’s revenue rose 47% year-over-year. Sales of Barbie dolls are flying as high as cryptocurrency as the world has gone crazy over the famed figure. The best is yet to come for the iconic brand.
With so many young girls stuck at home, their parents need to keep them entertained. This was accomplished as moms picked up what kept them busy throughout their youth, Barbie dolls. It seems and smells like a fad, but this is a train that will keep on going. Mattel plans to keep on building the Barbie brand with digital initiatives and a new movie with Margot Robbie on the horizon. The past year has been a rough year for many and it’s unimaginable to think about what staying inside all day has done for children. Many girls will have an emotional connection to Barbie unlike any other.
That nostalgia and infatuation will aid Mattel grow its Barbie brand to build it to continue for generations. It’s not just Barbie that’s seen success for Mattel. Hot Wheels and American Girl have also seen similar rebounds. Mattel has the right idea moving forward as they shift from a toy company to an intellectual property giant. It’ll be fun to see how they dominate for years to come.