Mattel, a toy company famous for Barbie, plans to expand beyond just making toys after the successful Barbie movie. Despite a 12% drop in sales for the last three months ending in June, Mattel is determined to grow its brands like Barney, Hot Wheels, and Polly Pocket through Hollywood films.
The CEO of Mattel, Ynon Kriez, sees the Barbie movie as a significant step for the company, showing the power of their intellectual property. Although it's not clear if they'll directly make money from the movie, Mattel has already released a soundtrack album and partnered with over 165 companies to create related products.
Mattel has bigger ambitions, with the CEO aiming to create a "Mattel universe" like Marvel's successful movie franchise. They own not only Barbie but also popular brands like Bob the Builder, Thomas the Tank Engine, and Uno.
On another note, Mattel's chief operating officer, Richard Dickson, will be leaving the company to become the new CEO of US clothing retailer Gap.