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it’s in an industry where the average life expectancy of a brand is 3 to 5 years for an iconic brand it’s the gutsiest thing you can do it’s the Nostalgia of being a kid [Music] again welcome to the big question the series from EUR news where we speak to some of the biggest names in business I’m Hannah Brown and today I’m joined by Sania luthra the managing director for Mattel for Europe Asia and the Middle East you very much for joining um so let’s dive straight in and talk about Barbie it’s an iconic brand but just talk me through how it was doing financially and the trends you were seeing leading up to the release of the film in 2023 Bobby before the movie right just imagine it’s Bobby at 65 year old is one of the top selling doll in the toy industry and it’s in an industry where the average life expectancy of a brand is 3 to 5 years so I think not many people know that when Bobby was created by Mattel’s founder Ruth Handler you know she she broke the mold before that the dolls were only nurturing dolls so that you know inspiring the girls only to be a mother and I think rest is history since then it kind of you know broke all the records in the toy industry I would also say somewhere in 2005 you know barie lost little of its way with the consumers and um uh the the kid wanted to see the girls wanted to see themselves and their kind of you know their word in in the barie dolls and we were not in sync with that so what we did is we recontextualized the whole uh Bobby brand to its core brand purpose which is to inspire the Limitless potential in every girl changed everything we changed the packaging we changed messaging to the consumer we also ch change the product it’s you know to do that for an iconic brand it’s the gutsiest thing you can do and that’s what we did we Diversified Barbie shape and today if you look at Barbie it comes in 180 different forms and shapes Wow since then uh we have gone from strength to strength it is number one toy in the doll category it’s also as a life Sor uh we deal with multiple categories and it leads in multiple categories there and I think we did all of this before the movie so let’s talk a little bit about the film it was the highest grossing film of 2023 and it tght internet Searchers in the US for movie merch early early this year so since the film how have you seen the business change you know has have you seen a growth in Revenue have and your customer Trends change at all intention was not to just create a movie my intention was to uh create a cultural event um around it and and I think that’s what the movie has done today the movie has I would say recontextualize the whole barie brand for a new generation and it goes so well with our over overall what we are wanting to do with the company it’s a it’s no more a toy company what we are saying is it’s a toy and a family entertainment company and we want to build a lot of business films television uh Live Events consumer products digital gaming all around um beyond the toys and I would also say there is a trend emerging uh which is adults and you know adult fans and collectors who are getting heavily into the toy industry that um that segment of Industry right in us from 2020 to 2022 has grown 3.9 billion wow even in Europe during the same period it has the that industry has grown by a billion young and adult fans they want to connect with their childhood memories they see nostalgia in that these collectors need much more detailed product so there is a new trend emerging there and how do you plan to um keep this kind of older demographic engaged going forward one of our latest offering is metal Creations it’s a premium e-commerce site which we have created and it’s largely for all the adult fans and collectors we are trying to build a community where they can all these fans and adult fans and collectors can come and share their feedback talk about you know the products and Trends and we’re getting phenomenal response out of it just imagine I remember old traditional marketing uh times when we used to have 1,000 surveys from our consumers across the country and get the feedback in 4 months later they’re very Frank and open because they love the brands I can give you an example when from the movie I’m K of right the hoodie we saw that it’s a great product we listed it and we thought we’ll sell 4 to 5,000 units kind of it’s a cool thing and in first 10 days Hannah I can’t tell you we sold 100,000 units in first 10 days we have sold more than 200,000 units so far uh hoodies so so it’s it’s a great example and that’s what we’re doing in metel Creations this is one of our fastest growing business right now and so let’s talk a little bit about your role yes you know I believe Barbie’s big biggest Market is the us but you cover Europe Asia and the Middle East what are the biggest problems in your territories emia I would say is a diverse but it’s a vibrant I will call it region and I’m very excited right I I love this region the diversity of it multicurrency multil language Multicultural so Bobby is the largest brand in our our business and hot Fields is a close kind of you know uh number two brand and it’s I would say that um Europe as a region is also very games focused market so games and Uno is a massive brand for us where is your biggest growing market right now and UK Germany and France these are the three leading markets in the region kind if you know turkey and Poland are two of our f growing markets and today they’re growing at such a massive Pace that they will be soon very close to many of the core European countries as we talking about the toy industry right um pre pandemic to postp during the pandemic the industry uh grew you know 6% and then for the last one year it has gone back to the pre-pandemic levels but Mattel has continuously grown during that time um we have you know outpaced the com kind of you know uh that market growth at a much faster Pace the publish numbers are we are growing at during that period we have grown at 19% and finally on a personal level what is it that you love about working in the toy industry it’s the Nostalgia of being a kid again every day you know it’s such a purpose-driven industry I can’t think of working in any other industry right I have been in the industry for 22 years one thing I love the most is when I connect with any kid in seconds that’s the beauty and I love that part of it okay brillian well thank you so much for your time today it’s been really really fascinating to sh te anah it’s a pleasure thank you very much [Music]