Pandemic Helps Barbie Doll Break 5-Year Sales Record


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Pandemic Helps Barbie Doll Break 5-Year Sales Record

Barbie’s sales reached $ 1.35 billion last year, the best since 2014. Parents stocked up on toys to help their children survive the pandemic.

Pandemic Helps Barbie Doll Break 5-Year Sales Record

Global sales of Barbie dolls worldwide grow 16%, helping Mattel achieve the largest sales since 2017.

The pandemic has benefited the toy industry, which has benefited from the constraints faced by other entertainment formats.

Supply chains were overwhelmed by skyrocketing demand earlier this year.

General director Inon Craise stated that the company, which also owns brands like Hot Wheels, was ultimately able to satisfy «extraordinary» growing demand for their products.

«Yes, the industry as a whole has benefited from the increased demand for Covid, but we are well ahead of the industry», – he said.

Hasbro’s main rival, which owns Nerf and board games such as Monopoly, reported this week that its full-year 2020 sales fell 8% to about $ 5.4 billion, despite growing 4% in the last quarter..

Mattel’s sales grew 2% last year to over $ 4.5 billion, and are up 10% in the last three months of the year, including the critical Christmas season..

Profit in 2020 was $ 126.6 million compared to a loss of over $ 200 million last year.

Mattel on Tuesday also announced a new savings program that it says will help save $ 250 million by 2023.

In contrast to previous efforts, which focused on reducing the company’s manufacturing floor, Craise said the measures would be broader, including plans to standardize global marketing and modernize American Girl’s retail operations..

He declined to comment on specific job cuts.

«It’s less about people and wages than about systems and processes», – he said.