Mattel’s efforts to keep the Barbie brand culturally relevant have included releasing three new dolls representing top business leaders, the Wojcicki sisters, and signing a Barbie apparel deal with Gap, which will hit stores in May, just weeks before the movie’s release. According to Statista, the Barbie brand generated $1.5 billion in gross sales in 2022.
Despite these efforts, Mattel’s stock has been under pressure in the past year, with shares losing 27% as consumers pulled back on discretionary items amid record-high inflation and a slowing economy. Mattel’s first-quarter sales fell 22%, and the company is still working to clear excess inventory.
Kreiz is optimistic, however, that the second half of the year will be a different story for Mattel. While it’s too early to tell how the holiday season will shape up, Kreiz believes that Mattel has some meaningful drivers for the full year.
