Barbie dollars! Mattel’s value rises by £1 billion
In pink: Margot Robbie as Barbie
Mattel Inc has seen its value rise by £1 billion this year ahead of the Barbie movie.
The US toy maker’s share price has risen by a fifth since the start of 2023 and Mattel is now worth £5.9 billion.
Most of the increase has happened in the past three months as anticipation grew for the release of the film – directed by Greta Gerwig and starring Oscar-nominated Margot Robbie as Barbie – based on the Mattel doll.
Analysts believe Mattel, listed on the Nasdaq, could be worth even more. Goldman Sachs gave its shares a price target of £18.70 last week, which would bring the value to £6.6 billion.
Global retailers are capitalizing on the Barbie craze. Fashion chains such as H&M, Gap, Zara and Primark are all launching collections linked to the film.
At Zara, a Barbie perfume, hoop earrings and a pink cropped hoodie were all out of stock on the company’s UK site on Wednesday.
Mattel is selling a Barbie doll dressed in a pink plaid dress – similar to one of Robbie’s costumes – for £44.99. Others, modeled after characters in the movie, cost £66.99.
Sales of Barbie figurines reached £1.15 billion last year and are expected to rise sharply.
The price of vintage dolls has also skyrocketed.