When it comes to classic toys, there’s no brand quite as iconic as the Mattel Toy Company. The toy industry is booming, with sales reaching a whopping $33.43 billion in 2020.
In order to stay relevant, the Mattel company is undergoing some changes so that it’s able to adapt to today’s ever-changing industry.
Read on to learn more about what changes this popular toy company is making so that it can remain a leader in the toy business.
There’s nothing quite like a film deal to solidify and strengthen a brand. As for Mattel, the toy company has several film deals in place based on some of its most popular lines.
Everything from Barbie and Hot Wheels to He-Man and Rock ‘Em Sock ‘Em Robots currently has a film deal in the works. Many of these movies will feature famous actors and actresses like Tom Hanks, Ryan Gosling, and Vin Diesel, just to name a few. When these films are released, they’re sure to bring Mattel products back to the forefront.
Mattel Doll Developments
Mattel has long been renowned for its line of famous Barbie dolls. Sales of Barbie products are rising and were the number-one toy across the globe in both 2020 and 2021.
The company also reclaimed the licensing for Disney Princess and Disney Frozen from its main competitor Hasbro. These are some of the most lauded Disney characters, so getting licensing for them will help Mattel gain even more traction in the toy industry.
Focusing on doll sales is a smart way to improve sales and increase brand recognition. When it comes to toys, dolls tend to be one of the most popular niches among consumers.
New Business Initiatives
As a leading brand in the toy industry, Mattel is also tackling some new strategies and business initiatives. The company plans to expand its toy line to other facets like gaming and a wide range of consumer products. As a leading brand in the toy industry, Mattel is also tackling some new strategies and business initiatives. The company plans to expand its toy line to other facets like gaming and a wide range of consumer products.
These initiatives will help the brand reach a wider range of consumers, including adults and gaming fans. Focusing on popular toy lines and games like Uno, Hot Wheels, and Barbie will allow both children and adults to experience the brand in a whole new way.
The company laid out its strategy in a pre-filmed presentation that highlights its future plans. Focusing on new niche markets is helping Mattel not only remain relevant but also to expand its current portfolio of products. Games and live-action films will help the company expand and grow in the coming years.
The Future of this Popular Toy Brand
With new licensing, live movies, and business initiatives, the future of Mattel looks bright. This classic brand remains a leader in the toy industry and will likely continue to do so for years to come.
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