Industry Innovators 2023: Mattel

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The Basics: The global company with a portfolio of iconic brands, including Barbie, Hot Wheels, Fisher-Price, American Girl, Thomas & Friends, UNO, and Masters of the Universe, is expanding from toys into live experiences, films, and more, taking a page out of the playbook of one of BizBash’s other top innovative brands. The company’s chief executive, Ynon Kreiz, told Time in 2022, “We look at Marvel as a very good analogy. That is directionally what we believe we can achieve in terms of the strength, appeal, and built-in fan base of our franchises.”

This strategy includes the upcoming live-action Barbie movie and the seemingly endless array of experiences tied to the doll (which are coincidentally happening at the same time as the release of the film), such as the Malibu Barbie Cafe in New York, Chicago, and Los Angeles and the Mattel-backed "World of Barbie" exhibit that first debuted in Toronto. Mattel also launched a partnership with Forever 21, hosting various events to showcase the collection.

But it’s not all about Barbie, Barbie, Barbie—although it is the first of 14 projects in development from Mattel’s new films division. The company has also broken ground on a theme park in Arizona. The Mattel Adventure Park will feature brand activations from Barbie, Masters of the Universe, Hot Wheels, and a Thomas & Friends indoor theme park. It’s slated to open in 2024.

“It’s important to say that when it comes to all of these additional verticals—film, television, live events, consumer products, and digital experiences—the way we see these is as an opportunity to grow our business and expand beyond the toy aisles, as opposed to think of them as a marketing strategy. This is really our evolution to become an IP-driven, high-performing toy company,” Kreiz said in the Time article.

At "World of Barbie," visitors can get in the driver’s seat in a full-size camper van built by car customization shop West Coast Customs.Photo: Courtesy of Kilburn LiveMost Innovative Experience: "World of Barbie" made its global debut last July in Toronto. Inspired by the doll’s lifestyle, the 30,000-square-foot immersive attraction features life-size installations, including her famous Dreamhouse, TV studio, airline, and camper van. “Barbie is iconic and timeless, and the brand has been a treasured part of many people’s lives. Given that fact, it was a perfect time to work with a brand that is so beloved to create this experience,” Jonathan Sanford, COO of Kilburn Live, the live entertainment company behind World of Barbie, told BizBash last year.

Visitors can strut down a pink carpet and pose inside several life-size doll boxes designed around various Barbie professions and hobbies, like movie director and mermaid, each with the tagline “You Can Be Anything.” An on-site museum with a selection of Barbie collectibles showcases the evolution of the doll. "World of Barbie" is currently taking place in Los Angeles.

Inside "World of Barbie," visitors can pose inside several life-size doll boxes designed around various Barbie professions and hobbies like movie director and mermaid, each with the tagline “You Can Be Anything.”Photo: Courtesy of Kilburn Live

At the launch party for Forever 21's limited-edition Barbie Summer 2022 Collection, guests were able to pose with the doll’s Corvette convertible.Photo: Courtesy of Coffee 'n Clothes