Amidst online fervor for the upcoming Barbie movie, Mattel
Reintroducing the old popular toys is in keeping with Mattel's strategy to capitalize more on its legacy brands, a strategy introduced by Mattel CEO Ynon Kreiz. The toys will come back to market under a single umbrella brand, Back in Action.
"This is our toe in the water," the vice president of global marketing at Mattel, PJ Lewis, said. "Back in Action helps us maintain the validity of our I.P. and decide what's next."
The Back in Action brand will be officially unveiled at the upcoming Comic-Con International in San Diego. The company plans to start its reintroduction campaign by targeting hard-core fans and collectors, according to Mattel President and COO Richard Dickson. Mattel followed a similar game plan when it reintroduced its Masters of the Universe toyline, including He-Man, last September.
"We test and see whether we should bring back the brand in a meaningful way," Dickson said.
Mattel is also aiming for collectors with the exclusive Voltageous doll for its Monster High brand, reintroduced last year with the "Skullector" doll line. The Monster High doll line was introduced in 2010 but was taken off the market in 2018.
The Voltageous doll will be sold exclusively at Comic-Con as a part of the "Skullector" series. A Monster High live-action mystical is also coming to Nickelodeon and Paramount+
Major Matt Mason was first sold by Mattel in 1967, followed by Big Jim in 1971 and Pulsar in 1976, but none of them have held significant space in pop culture in recent years. Mattel plans to reintroduce them in an effort to capitalize on their otherwise dormant IPs.
"You own the I.P., so there's the opportunity to capture merchandising," BMO Capital Markets toy industry analyst Gerrick Johnson said. "One of the huge upsides is to elevate a toy line that was underperforming or not performing at all."
So far, Kreiz's plan to beef up legacy IPs has payed off: in 2021, the company reported a 19% increase in sales to $5.5 billion, and it expects to grow another 8 to 10% this year. The company's performance has stayed strong despite the supply chain issues affecting the industry.
Along with a Margot Robbie Barbie movie and a He-Man movie from J.J.Abrams's Bad Robot, Mattel is also set to produce films for brands Hot Wheels, Thomas the Tank Engine, Polly Pocket, and Magic Eight Ball.
