Mattel Barbie strategy can revitalize American Girl, Fisher-Price, CEO says

If there’s one thing Mattel CEO Ynon Kreiz wants shareholders to take away on Thursday, it’s the power of Barbie.

As the toymaker faces activist pressure from Barington Capital, particularly around its strategy with the Fisher-Price and American Girl brands, it’s putting forth Barbie as a blueprint of what’s possible at the toy company, with an investor presentation Thursday.

“Our job is to take these timeless brands and make them timely,” Kreiz told CNBC ahead of the presentation.

Since taking the helm of Mattel in 2018, Kreiz has initiated a turnaround plan for the company that has seen the revival of major brands, including Barbie, and a 44% increase in share price. He’s touted the Mattel “playbook,” the company’s strategy for taking beloved franchises and making them available to consumers across multiple segments.

With “Barbie” — the eponymous film, directed by Greta Gerwig and nominated for eight Oscars this year — that plan has come to fruition.

“The idea was to find ways to create multiple touch points, to build strong toy brands,” said Kreiz. “And once you have the established fan base and cultural resonance around brands, this is where you extend them to other experiences, other products, other opportunities to connect with your fans.”

“The ‘Barbie’ movie was really a manifestation of that very much a showcase of how we think about the opportunity in front of us,” he said.

Gerwig’s “Barbie” generated nearly $1.5 billion at the global box office by tapping into pop culture relevance — both the reverence and revulsion for the toy brand felt by consumers for more than six decades. The film’s success led to around $150 million in related toys and consumer products sales, like sweatshirts emblazoned with the phrase “I am Kenough” and Mattel’s share of the movie ticket proceeds.

“We’re now thinking of people who buy our products not just as consumers but as fans,” Kreiz said.

Starting in July, the movie will go on a…