Mattel Barbie Reigns Supreme: Mattel, the renowned toy manufacturer, has reported a 9% surge in net sales, reaching $1.92 billion in the third quarter of 2023. The driving force behind this success? None other than the iconic Barbie and the ever-popular Hot Wheels toys. Barbie witnessed a remarkable 27% increase in worldwide gross billings, raking in $885 million for Mattel during the quarter. Hot Wheels, on the other hand, boosted the vehicles category with an 18% rise, totaling $519 million compared to the same quarter the previous year.
Despite these achievements, Mattel is worried about the future due to global toy market challenges. As economic uncertainty and inflation may affect consumer demand, the company expects full-year sales to stay at $5.4 billion, similar to 2022.
Company net income fell 50% to $146.3 million in the third quarter from $289.9 million the year before. Shares of Mattel fell up to 8% after-hours.
In North America, net sales surged by 10% during the third quarter, driven by the robust performance of dolls, including Barbie, Disney Princess, Monster High, and Disney Frozen. Hot Wheels toys also contributed significantly, partially compensating for the declines in action figures, building sets, and games. On the international front, these categories similarly fueled sales.
Notably, there was one exception to the positive sales trend: American Girl dolls, which saw a 13% decrease in sales this quarter.
Mattel has expressed a desire to expand its intellectual property-driven toy business beyond the confines of the toy aisle. CEO Ynon Kreiz has indicated the company’s intention to continue monetizing its properties through films and other entertainment products.
Barbie’s success is not surprising, considering the blockbuster “Barbie” movie, directed by Greta Gerwig, experienced the most substantial opening weekend of 2023 and is the highest-grossing movie at the domestic box office this year. Mattel’s Barbie-related products are enjoying immense popularity, with $350 million in sales reported for the quarter. Kreiz has disclosed that the first wave of movie-related products has sold out, and Mattel plans to release more products in time for the holiday season.
Our Reader’s Queries
What is the rarest Barbie doll ever?
Discover the world’s rarest Barbies with our list of twelve dolls, each complete with their release year and current estimated market value. From the sophisticated City Smart Silkstone Barbie to the charming Lucky Charm Ken, these dolls are sure to impress collectors and enthusiasts alike. Don’t miss out on the Winter Glamour White Barbie or the stunning Diamond Barbie by De Beers, celebrating 40 years of Barbie’s legacy. And of course, we can’t forget the iconic Original Release Barbie, a must-have for any serious collector.
What Barbie doll is worth the most money?
Did you know that some Barbies are worth a fortune? The Stefano Canturi Barbie is the most expensive one ever sold, fetching over $27,000! The De Beers Barbie comes in second, followed by the original Barbie. There are also other pricey Barbies out there. So, if you happen to have one of these rare dolls lying around, it could be worth a pretty penny.
What is the best selling Mattel Barbie doll?
One of the most popular versions of the famous Barbie doll is the Totally Hair Barbie. This particular doll holds the title of Mattel’s top-selling Barbie to date, as confirmed by the Guinness World Records. The Totally Hair Barbie was first introduced in 1992 and has since sold over 10 million dolls worldwide, according to the company.
What is the most successful Barbie doll?
In 1992, the “Totally Hair Barbie” was released with the longest hair ever seen on a Barbie doll. It remains the top-selling Barbie to this day. If you weren’t around in ’92, perhaps you were born during a year that celebrated one of Barbie’s other iconic looks or milestones.