![]() And look for Vin Diesel in an upcoming film about the Rock ‘Em Sock ‘Em Robots. So watch for Tom Hanks to portray his favorite childhood toy in a movie about Major Matt Mason. Kreiz plans to make more movies based on Mattel’s legacy toys, he said. And when you have an audience, it changes the conversation.” “When you have a lot of fans, it becomes an audience. “The real change in our DNA was to think about the people who buy the product not just as consumers, but as fans,” Kreiz said. The first Hot Wheels cars, meanwhile, hit store shelves and makeshift ramps a decade later in 1968. Barbie, for example, made her retail debut in 1959. Mattel’s legacy toys have found their way into the hearts, beds and driveways of children for two and three generations. We’ll also sell toys and consumer products, but it has to start with quality content. “So, if people watch our content, good things will happen. It was literally, ‘Don’t try to sell even one toy.’ Make great content that people want to watch,” said Kreiz, who earned his MBA from the UCLA Anderson School of Management, where he first met Olian, the school’s former dean and John E. The reboot of Mattel’s business model is about agility and meeting the demands of consumers in an ever-changing digital marketplace that includes movies, TV and video games. During a February 2022 conference call with analysts, Kreiz declared that Mattel’s turnaround was complete, and the company was focused on growth.įor Kreiz, the end game is content creation, not selling toys. Kreiz took Mattel from a company that relied almost entirely on toy manufacturing - think Barbie, Hot Wheels, Fisher-Price, Magic 8 Ball - and pivoted to an entertainment company leveraging its intellectual property with one of the world’s strongest toy portfolios.īy the end of 2021, sales were up 21% for the year, according to Forbes. “Mattel is exemplary as a case study in the transformational building of a portfolio of toys and toy brands to become a multimedia, multiform entertainment company that is now something of a cultural phenomenon,” Raider said. With every seat taken - and students sitting in the aisles and other spaces - the room collectively leaned in to hear one of the industry’s boldest comeback stories. Holly Raider, dean of the School of Business, introduced Kreiz to an overflow crowd of more than 400 at the Mount Carmel Auditorium. But where others saw a toy company in turmoil, Kreiz saw the opportunity of a lifetime.įive years later, boosted by the “Barbie” movie and $1.4 billion in worldwide gross sales, Mattel has emerged smarter and stronger under the venerable leadership of Kreiz, who joined President Judy Olian on Friday for a Fireside Chat. As Mattel’s fourth CEO in four years, Kreiz understood the stakes.
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