Even after six decades of its launch, the doll Barbie continues to be a consumer fever and generates annual revenues of more than US$ 1 billion for Mattel.
According to the toy company's earnings reports, the doll has generated at least $1 in sales. billion in each of the past five fiscal years, cementing its position as one of the most profitable and enduring brands in the history.
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After experiencing a slight dip below the $1 billion mark for a few years, the world's most beloved doll once again surpassed that figure in 2018.
The success continued in the following years, with a gross of US$ 1.35 billion in 2020, US$ 1.68 billion in 2021 and an impressive US$ 1.49 billion in 2022, which was an exceptional year for the doll.
Concern about diversity helped drive sales
Mattel's efforts to embrace diversity and inclusion have contributed to Mattel's enduring popularity. Barbie
. The company introduced a variety of body types in 2016, including tall, curvy, and petite, and has since expanded the range of skin tones, eye colors, and attributes available to dolls.Additionally, the Barbie brand has been an advocate for representation, releasing dolls with hearing aids and collaborating with organizations such as the National Down Syndrome Society to create a doll with Down syndrome Down.
Currently, there are nine different body types, nearly 100 hairstyles, and nearly three dozen skin tones. available for Barbie dolls, which is a direct reflection of the changes that have occurred in recent years in the world in which we live.
Barbie's resume has also grown over the years, with the doll taking on more than 250 professions. different people, ranging from a doctor and president, to pop star, hockey player, astronaut, teacher and chef, to name a few.
Impact of the new film
Upcoming movie 'Barbie' starring Australian actress Margot Robbie as Barbie and heartthrob Ryan Gosling as Ken, further reinvigorated interest in the beloved doll.
Produced by Mattel Films and Warner Bros. Pictures, the live-action film is expected to be a cultural phenomenon and has been eagerly anticipated by fans across the world.
Mattel CEO Ynon Kreiz expressed excitement about the film's potential impact during the company's most recent earnings call.
Kreiz shared his belief that 2023 will be a defining year for the Barbie brand, leveraging the film's cultural conversation to expand Barbie's reach beyond the traditional aisle of toys.