Capitalizing on the huge success of Barbie and a multi-billion dollar industry, Mattel (NASDAQ:MAT) unveiled plans to maximize Barbie fever with Barbie theme parks, restaurants and even Barbie-themed rooms at a Bahamian resort.
At Thursday's investor day, Mattel (MAT) executives unveiled new dolls, new cars and a new wooden playset for toddlers, and even plans for a theme park in Arizona that will incorporate more than ten Mattel brands, including a Barbie beach house and two Hot Wheels roller coasters.
For Barbie, the company plans to launch Mini Barbie Land to tap into kids' love for all things mini and all things Barbie. “While the product is small, we believe the size of the opportunity is enormous and we want to participate,” said Lisa McKnight, Mattel's chief brand officer.
For older girls, Mattel is developing a segment of fashion dolls called Barbie Dream Besties and will reintroduce horses to the Barbie universe. American Girl is also getting attention with a feature film in association with Paramount Pictures. American Girl is also teaming up with Disney (DIS) and Disney (DIS) Frozen princesses with a new flagship doll to complement the premium collection launching in 2023. And to better align with holiday sales, Mattel (MAT) is changing its “ American Girl of the Year” release to September from January.
Mattel's (DIS) line of Disney dolls will soon include new offerings from the film version of the Broadway musical Wicked. And with the release of Monster High on Netflix (NFLX), Mattel (MAT) is developing collectibles and “monstrofications” of pop culture characters.
For babies and toddlers, the company is entering the $800 million wood market with developmental toys made from a sustainable product. Fisher-Price Wood will launch exclusively at Walmart (WMT) later this spring with a global launch planned for the second half of 2024.
In addition to toys, Mattel is setting its sights on the travel industry with the new Barbie Dream Lounge restaurant in New Lyon, Mexico, and a partnership with Atlantis Bahamas Resort with Barbie-themed suites, kids' club activities, as well as dining and Barbie themed drinks. .
