Hot selling 8.7 billion yuan, Barbie once again propped up this company?

by:Ennas      2022-02-03
2020 is an extraordinary year, but Mattel (MAT.US) has achieved its best performance in recent years with the sales of its Barbie dolls, Hot Wheels and other brands. The financial report shows that in 2020, Mattel’s sales were US$4.584 billion (approximately 29.57 billion yuan), and net income was US$126.6 million, an increase of US$341.1 million over the same period last year, and it turned losses into profits. Mattel has a net loss in 2019. 213 million US dollars. The annual sales of Mattel's brands in 2020: Barbie’s total annual sales of US$1.35 billion, an increase of 18% year-on-year; Fisher/Thomas’s total annual sales of US$1.066 billion, a year-on-year decline of 5%; Hot Wheels total annual sales of US$954 million, A year-on-year increase of 5%. Barbie dolls sold 8.7 billion yuan, a year-on-year increase of 18%. In terms of growth rate, dolls have always been Mattel’s largest toy category, and sales in this category will increase to 13% in 2020. This is due to the promotion behind its two main brands, Barbie and American Girls. Among them, American Girl (American Girl) sales increased by 9% year-on-year, and this is the first time the toy has achieved growth in 4 years. Since 2012, Mattel’s flagship product, Barbie dolls, has faced market weakness and aesthetic malformations in the European and American markets and continued to grow negatively. Sales even fell to 21% in the third quarter of 2015. However, in 2020, the growth rate of Barbie dolls in Q4 will reach 18%, with sales reaching 471 million U.S. dollars; in 2020, the cumulative sales of Barbie dolls will reach 1.35 billion U.S. dollars (approximately 8.71 billion yuan), a year-on-year increase of 18%, occupying Mattel Nearly 30% of total revenue. In addition, according to NPD data, Barbie dolls occupy the top spot in the world's number one toy in the fourth quarter of 2020 and throughout the year. According to Mattel’s previous financial reports, Barbie’s revenue in 2017 has increased year by year, from US$955 million in 2017 to US$1.35 billion. The reason behind this aging toy brand, which was first born in 1959, continues to attract attention. On the one hand, to keep up with the changes in the new era, Mattel continues to improve its products, introducing more diverse body types, skin colors, hair colors, and professional Under the premise, on the other hand, it also introduced a new way of revealing the skin color of the doll with the concept of blind box dipping in water, and tried to combine with brand-new film and television content to reach consumer groups. Of course, in addition to the improvement of the company’s products and marketing, there is also a driving force behind the rapid growth of Barbie dolls, that is, the emergence of uncertain large-scale environmental factors. According to the Daily Business News, a report aimed at 3,000 American parents The survey shows that the time children spend on electronic screens during the epidemic has increased by 500%. In order to divert their attention from the electronic screen, parents are more willing to buy toys and educational games. Secondly, car toys achieved a 12% growth in the fourth quarter. Among them, Hot Wheels toys performed strongly, contributing US$346 million in revenue in the fourth quarter. Hot Wheels, as the main brand in the automotive toy category, increased by 14% year-on-year, and contributed US$954 million in sales for the full year of 2020. It is worth mentioning that the brand's sales are second only to Mattel's Barbie doll series ($1.35 billion). In the operation of this brand, Mattel uses short videos and user interaction to produce content to attract fans. In order to reach consumers up close, it also held a virtual garage event to encourage fans to turn real cars into hot wheels by themselves. Look like to contribute to the competition. In response to the current trend of toy development, Mattel has also innovated the Hot Wheels ID product set that combines award-winning digital games and real toys to increase the fun of toys. At the same time, the financial report data also showed that the toy category with the target consumer group concentrated in preschool accounted for Mattel's second largest sales. The sales of this category increased by 7% in the fourth quarter, and the main contributing brands Fisher and Thomas and his friends Our sales in the fourth quarter reached 372 million U.S. dollars, and at the same time, the cumulative annual sales of these two major brands were 1.065 billion U.S. dollars. From the perspective of revenue contribution, it can be seen that the infant toy category is becoming more and more important to Mattel. From a regional point of view, North America, where the epidemic is severe, is still the main area for commodity demand, which generated 829 million revenue in the fourth quarter alone, an increase of 13%. The EMEA region (Europe, Middle East, Africa) market also performed strongly, with sales increasing by 12% year-on-year, second only to North America. Affected by the epidemic, sales in Latin America only achieved a small increase of 3%. In terms of sales channel construction, Mattel's e-commerce contributed significantly to the growth, with a year-on-year increase of 40%. Products sold through e-commerce channels accounted for approximately 36% of total wholesale sales. As one of the toy giants, Mattel, the key to 2020 revenue is still the Barbie doll and Hot Wheels toy car launched half a century ago. We don’t know whether it can continue to be profitable in the future, but it is experiencing an extraordinary year. After that, Mattel's new series of animation 'Thomas and His Friends' was also on the agenda, and it is expected to land on Netflix and Cartoon Network this fall. At the same time, Mattel launched a Hot Wheels game on the game platform Roblox and established a strategic partnership with NetEase. It can be seen that the scale of the electronic game category is almost twice that of traditional toys, and it has become Mattel’s search for new products. Opportunities for business opportunities.
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