Here’s a Look at Mattel’s History, Ownership, Net Worth, and Portfolio of Iconic Brands
Mattel, the owner and creator of the Barbie doll brand has brought the legend back with Greta Gerwig’s film Barbie which was released recently against Christopher Nolan’s Oppenheimer. The movie Barbie has been accepted wholeheartedly by the audience and now Mattel is looking to make more movies of its iconic toy collections.
From starting out in a garage to becoming a multibillion-dollar toy empire, the story of Mattel has been nothing short of inspiring. At the present stage, the company is diverse and owns several leading brands in the toy world.
Who owns Mattel?
While the company was founded by Ruth and Elliot Handler, and Harold 'Matt' Matson, the company is currently owned by institutional investors who hold majority ownership of MAT. Some of the major shareholders of the company are PRIMECAP Management Co., Edgepoint Investment Group, Inc., The Vanguard Group, Inc., and BlackRock Fund Advisors.
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What is Mattel’s net worth?
Mattel has a current market cap or net worth of $7.52 billion as of August 3. Mattel’s brands and products are grouped into six brand categories, Dolls, Infant, Toddler & Preschool, Vehicles, Action Figures, Building Sets, and Games. The company’s offerings also include film and television content, music and live events, and gaming. The revenue of Mattel was reported to be $5.059 billion for the twelve months ending on June 30. While the company’s Net Sales were $815 million, in the first quarter of 2023, as per the official quarterly report.
In its portfolio of owned and licensed brands, the company owns Barbie, Monster High, American Girl, Fisher-Price, Thomas & Friends, Power Wheels, Fireman Sam, Hot Wheels, Masters of the Universe, MEGA, UNO, and many more.
History of Mattel
Mattel was essentially founded in a garage in 1945, as a collaboration between Ruth and Elliot Handler, and Harold 'Matt' Matson. The three were designers and engineers, whose vision forever changed how kids play.
The company’s first hit came in 1947 with the Uke-A-Doodle, a child-sized instrument designed to make music accessible and more interactive for kids.
After the toy’s success and some popularity under its belt, the company was incorporated in 1948 with headquarters in Los Angeles.
Two years later, in 1950, Mattel introduced the iconic Magic 8 Ball which was inspired by the inventor’s mother who was reportedly a clairvoyant. The toy gathered immense popularity and even today, about 1 million units of it are sold annually. In 1955, Mattel revolutionized the way toys were marketed as it began television advertising through the Mickey Mouse Club, of Walt Disney. In 1968, the company introduced Hot Wheels which was invented by a team of creators comprising of a rocket scientist and a car designer.
In 1960, Mattel became a publicly traded company and it went on to acquire several other toy and entertainment companies to create a multibillion-dollar empire.
The iconic Barbie
Mattel launched the iconic Barbie Doll in 1959, created by Ruth Handler who was inspired by her daughter, Barbara who played with paper dolls for hours which made Ruth realize an opportunity to inspire girls. She created a three-dimensional doll that shows them that they can be anything. Barbie represented women in new and modern ways and established itself as a symbol of independence and empowerment.
In 1961 Mattel introduced Ken as a boyfriend for Barbie and in the following year, it launched the first Barbie Dreamhouse.
In 1985, Barbie launched the campaign 'We Girls Can Do Anything', and a year later Barbie became one of the American icons to be painted by renowned artist Andy Warhol. Barbie was officially inducted into the National Toy Hall of Fame in 1998.
Fast forward to 2016, Barbie took further progressive steps by introducing New Body Types to better reflect the girls. The three new body types were curvy, petite, and tall and this introduction landed Barbie on the cover of Time magazine.
In 2019 Barbie celebrated her 60th anniversary by honoring global role models and major landmarks around the world were lit up in pink. Fast forward to 2023, the Barbie movie was released starring Margot Robbie as Barbie, and presented a take on patriarchy and women empowerment.
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