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COMPANY PROFILE
Mattel Inc
REFERENCE CODE: 07512FFD-FF7B-47F6-98FE-6260A6CFFE32 PUBLICATION DATE: 21 Feb 2020 www.marketline.com COPYRIGHT MARKETLINE. THIS CONTENT IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIED OR DISTRIBUTED
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Mattel Inc TABLE OF CONTENTS
Mattel Inc © MarketLine
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TABLE OF CONTENTS
Company Overview ........................................................................................................3 Key Facts.........................................................................................................................3 Business Description .....................................................................................................4 History .............................................................................................................................5 Key Employees .............................................................................................................22 Key Employee Biographies .........................................................................................23 Major Products & Services ..........................................................................................26 SWOT Analysis .............................................................................................................27 Top Competitors ...........................................................................................................32 Company View ..............................................................................................................33 Locations And Subsidiaries ........................................................................................36
Mattel Inc Company Overview
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Company Overview
COMPANY OVERVIEW
Mattel Inc (Mattel or 'the company') designs, manufactures, markets, and sells toys. The company offers a wide range of girls' toys, boys' toys, youth electronics, educational toys, media-driven products, fashion- related toys, accessories, games and puzzles, and children's publications under its four brand categories including Mattel Girls & Boys Brands, Fisher-Price Brands, American Girl Brands, and Construction and Arts & Crafts Brands. The company manufactures its products through in-house and third-party manufacturing facilities. It markets products through online and retail stores, chain stores, and discount and free-standing toy stores. Mattel operates across North America, Latin America, Asia Pacific and Europe. The company is headquartered in El Segundo, California, the US.
The company reported revenues of (US Dollars) US$4,510.9 million for the fiscal year ended December 2018 (FY2018), a decrease of 7.6% over FY2017. The operating loss of the company was US$236.5 million in FY2018, compared to an operating loss of US$342.8 million in FY2017. The net loss of the company was US$531 million in FY2018, compared to a net loss of US$1,053.8 million in FY2017.
The company reported revenues of US$860.1 million for the second quarter ended June 2019, an increase of 24.8% over the previous quarter.
Key Facts
KEY FACTS
Head Office Mattel Inc 333 Continental Boulevard El Segundo California El Segundo California USA
Phone 1 310 5243607 Fax Web Address www.mattel.com Revenue / turnover (USD Mn) 4,510.9 Financial Year End December Employees 27,000 NASDAQ Ticker MAT
Mattel Inc Business Description
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Business Description
BUSINESS DESCRIPTION
Mattel Inc (Mattel or "the company") manufactures, designs, and markets of a wide range of toy products for children of all ages and families including toys for infants and preschoolers, girls' toys, boys' toys, youth electronics, hand-held and other games, puzzles, educational toys, media-driven products and fashion-related toys. Mattel's key global brands include Barbie, Hot Wheels, American Girl, Thomas & Friends and Fisher-Price. The company sells products over 50 countries. The company categories its business operations into three segments: North America, International and American Girl. The North America segment designs, manufactures, and markets a wide range of toys under Power Brands category in Canada and the US. Under Power Brands category, its major brands include Barbie, Hot Wheels, Fisher-Price and Thomas & Friends. The segment markets its products to retailers including department stores, other retail outlets, chain stores, and discount and free-standing toy stores. In FY2018, the North America segment reported revenue of US$2,422.1 million, which accounted for 47.7% of the company's revenue.
The International segment designs, produces, and markets through retailers and wholesalers in Australia and New Zealand, and countries in Latin America, Asia, and Europe. The segment also sells its products through agents and distributors in countries where the company has no direct presence. The products offered by the international segment are generally the same as those developed and marketed by the North America segment, although some products are developed or adapted for particular international markets. In FY2018, the International segment reported revenue of US$2,312.2 million, which accounted for 45.6% of the company's revenue.
The American Girl segment comprises children’s publisher, retailer, and direct marketer. The segment also publishes non-fiction and fiction books. It sells its products through online and retail stores, boutiques and franchise stores in Bahrain, Dubai, and Canada. In FY2018, the American Girl segment reported revenue of US$341.2 million, which accounted for 6.7% of the company's revenue. Geographically, the company operates in two regions, including North American Region, and International Region including Europe, Latin America and Global Emerging Markets. In FY2018, the North American region reported revenue of US$2763.3 million, which accounted for 54.4% of the company’s revenue, followed by International Region with US$2,312.2 million, which accounted for 45.6% of the company’s revenue.
The company manufactures its products through in-house and third-party manufacturing facilities. The company's major manufacturing facilities are in Canada, China, Indonesia, Thailand, Malaysia and Mexico.
Mattel Inc History
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History
HISTORY
Contracts/Agreements
Year: 2020
In February, the company entered into a licensing agreement with Universal Brand Development regarding the DreamWorks Animation’s Spirit Riding Free, the hit Netflix TV series and upcoming feature film.
Contracts/Agreements
Year: 2019
In May, Mattel entered into an agreement with Walt Disney to make toys and products for all Pixar Animation Studio’s film properties.
Contracts/Agreements
Year: 2019
In June, Mattel signed a license agreement with Sanrio to develop an array of toys, playsets, games, baby gear and much more for Sanrio’s Hello Kitty portfolio.
Contracts/Agreements
Year: 2019
In May,the company made a plan to build multi-branded family entertainment centers.
Contracts/Agreements
Year: 2019
In February, the company signed a partnership with Metro Goldwyn Mayer Pictures.
New Products/Services
Year: 2019
In February, the company launched a new slate of 22 animated and live-action TV programs.
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Contracts/Agreements
Year: 2019
In January, the company signed a partnership agreement with Warner Bros. Pictures Group.
New Products/Services
Year: 2019
In September, the company launched Creatable World, a customizable doll line which offers endless combinations all in one box.
New Products/Services
Year: 2018
In February, the company relaunched Polly Pocket in the original micro-scale and compacts.
Contracts/Agreements
Year: 2018
In February, the company expanded its partnership with Tynker to introduce 10 million kids to coding by 2020.
Corporate Awards
Year: 2018
In February, the company won the Toy of The Year Award in the Playset Category for the Hot Wheels Super Ultimate Garage at the Toy Industry Association's Toy of the Year (TOTY) awards ceremony
Contracts/Agreements
Year: 2018
In January, the company entered into a joint venture with NetEase, Inc. to form a world-class publishing and development studio, Mattel163.
Contracts/Agreements
Year: 2018
In January, the company announced a new US television and consumer products partnership with
Mattel Inc History
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Nickelodeon to launch the brand-new seasons of Thomas & Friends on the Nick Jr. channel, and additional specials that will air on Nickelodeon throughout the year.
New Products/Services
Year: 2017
In November, the company’s Barbie and Crayola brands announced a new product line, combining the No. 1 fashion doll with the No. 1 worldwide producer of arts and crafts products.
New Products/Services
Year: 2017
In October, the company in partnership with Dash Robotics introduced Kamigami, an innovative build-it- yourself robot set for kids.
Contracts/Agreements
Year: 2017
In August, the company entered into partnership with Fullscreen to launch Fullscreen Family, a brand- safe video network, and the Hot Wheels digital content innovation team.
New Products/Services
Year: 2017
In August, the company launched a new adult strategy game, Escape Room in A Box: The Werewolf Experiment at Gen Con 2017.
Contracts/Agreements
Year: 2017
In March, Mattel, Inc awarded a contract to JDA and KPMG to digitally transform supply chain process.
Corporate Changes/Expansions
Year: 2017
In July, the company opened a new East Coast hub to pack popular toy brands and to handle Mega Brands.
Contracts/Agreements
Mattel Inc History
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Year: 2017
In June, Mattel entered into an agreement with Fosun Group to form a new joint venture to launch child development clubs.
Contracts/Agreements
Year: 2017
Mattel and Babytree, one of the largest online parenting communities in China, formed a strategic partnership to co-develop an early childhood learning and development online platform.
Contracts/Agreements
Year: 2017
The company announced a new strategic partnership with Alibaba Group, an online and mobile commerce company, to market and sell products via Tmall.com in China. Mattel will also leverage Alibaba Group's media ecosystem to develop and promote learning resources and educational content. Additionally, the company will work with Alibaba Group's A.I. Lab to develop new and innovative products, designed to aid child development through the use of cutting-edge technology and smart, interactive learning.
New Products/Services
Year: 2017
Mattel’s nabi brand announced the launch of Aristotle, a connected kids room platform developed by Microsoft, Qualcomm Technologies and Silk Labs.
Contracts/Agreements
Year: 2016
Animoca Brands and Mattel unveiled Thomas & Friends: Read & Play, a subscription-based children's entertainment and learning mobile app.
Contracts/Agreements
Year: 2016
Mattel finalized strategic relationships with Choirock Contents Factory, Co. (Choirock) and Sonokong Co. (Sonokong), two of Korea's established toy industry leaders. Under the terms of an agreement with Choirock, Mattel will serve as master toy licensee for the Turning Mecard franchise, currently the number
Mattel Inc History
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one toy franchise in South Korea by sales. Under the terms of the deal, Mattel will manufacture, distribute and market a wide variety of toys and products inspired by the franchise, including vehicles, action figures, games and other items. Choirock will continue to distribute and manage the Turning Mecard franchise in Korea, while Mattel will hold the right to introduce the franchise in markets throughout the world. Separately, Mattel and Sonokong entered into a strategic agreement, in which Sonokong will serve as Mattel's primary distribution partner in South Korea, with responsibility for sales and product distribution. The agreement applies to Mattel's entire product portfolio, excluding games. Mattel also entered into a definitive agreement to acquire a 12% equity stake in Sonokong, a publicly-traded company listed on the Korea Exchange (KRX).
Contracts/Agreements
Year: 2016
American Girl announced a content licensing agreement with Amazon. The agreement makes Amazon Prime Video the exclusive premium subscription streaming home for American Girl’s animated series, WellieWishers.
New Products/Services
Year: 2016
American Girl launched WellieWishers, a new content and doll lifestyle brand for younger girls aged between five and seven.
New Products/Services
Year: 2016
American Girl, in collaboration with Mattel's Mega Bloks team, expanded into the building category with its line of construction toys for girls aged eight and above.
Contracts/Agreements
Year: 2016
Mattel renewed agreement with Disney Consumer Products for the Cars franchise, and the Disney*Pixar film Cars 3. Through this agreement, Mattel continues its worldwide rights to manufacture, market and distribute toys and products based on the award-winning Cars franchise across multiple categories, including vehicles and playsets.
Commercial Operation
Year: 2015
Mattel Inc History
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American Girl, in partnership with El Palacio de Hierro, opened its first shop-in-shop boutiques in Mexico. This marks American Girl's second international retail presence.
Financing Agreements
Year: 2015
The company and Quirky, a company that makes invention accessible, partnered, to trigger invention in toys, play and baby gear. The partnership combines Mattel's scale with Quirky's open and structured approach to product development.
Contracts/Agreements
Year: 2015
Mattel collaborated with Google for its View-Master toy. The new View-Master that works with Google cardboard will give an immersive digital experience for kids. In the same month, American Girl entered into a licensing agreement with Fashion Angels, a designer of tween girls' lifestyle and activity products, to create a variety of trend-right and fashion-focused arts and crafts products.
New Products/Services
Year: 2014
Mattel announced retail fashion programs with Forever 21, Uniqlo Co., Primark and Lord & Taylor, to offer a wide range of Barbie branded apparel and accessories for juniors and girls.
Contracts/Agreements
Year: 2014
Fisher-Price partnered with philanthropist and global pop singer, Shakira and the Barefoot Foundation to create a web series for moms and co-develop a new line of Babygear and toys.
New Products/Services
Year: 2014
Barbie made its 28th movie, Barbie The Pearl Princess, available on Blu-ray, digital versatile disc (DVD) and digital high definition (HD) at retailers across the US.
Corporate Changes/Expansions
Year: 2014
Mattel Inc History
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American Girl announced plans to expand into Canada through the company's catalogue and two store- in-store boutiques in partnership with Indigo Books & Music, a Canada-based book, gift and specialty retailer.
Corporate Changes/Expansions
Year: 2014
American Girl, a division of Mattel, announced expansion into Mexico in partnership with El Palacio de Hierro (one of the largest and best-established high-end retailers in Mexico). The first two American Girl shop-in-shop boutiques were opened at El Palacio de Hierro's Perisur and Interlomas locations in Mexico City, followed by a third boutique at the Polanco location.
Contracts/Agreements
Year: 2014
The company enhanced its Thomas & Friends Wooden Railway product line with the launch of direct-to- consumer catalogue, ThomasWoodenRailway.com e-commerce website. Mattel also partnered with 20 independent specialty retail stores, which will serve as official Thomas & Friends Specialty Stations in the US.
Acquisitions/Mergers/Takeovers
Year: 2014
The company acquired MEGA Brands, one of the leading global brands in construction toys, games and puzzles, and arts and crafts. The acquisition enabled Mattel to expand its construction and arts and crafts portfolio.
New Products/Services
Year: 2013
Mattel launched Max Steel, a multi-platform action-adventure entertainment franchise. It was launched globally with an animated superhero series premiere on Disney XD in the US and globally on major network operators.
New Products/Services
Year: 2013
Mattel introduced its action hero series Max Steel to the US Netflix members, with the ability to stream the first 12 episodes of season one.
Mattel Inc History
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Corporate Changes/Expansions
Year: 2013
Mattel announced the global launch of its latest intellectual property, Ever After High. Ever After High features storylines and original characters, leveraging multiple platforms to access consumers at every touch point.
Litigation
Year: 2013
Mattel announced that the Ninth Circuit Court agreed with the company that the verdict and damages on MGA's toy fair claims must be reversed, and the claims must be dismissed by the District Court.
Contracts/Agreements
Year: 2012
The company entered into a partnership with Crayola, a children's art supply maker, to launch two new Crayola-branded Barbie and Hot Wheels themed-product lines for children. The product lines include Mess Free Color Wonder (art activities featuring markers and paints that only appear on Color Wonder paper) and Giant Coloring Pages.
New Products/Services
Year: 2012
Mattel and Chillingo, an independent games publisher, along with mobile developer GlitchSoft launched a He-Man game application.
New Products/Services
Year: 2012
Mattel launched the Apptivity line of games for iPad, featuring screen-safe toys that interact with applications from brands like Fisher-Price, Hot Wheels, Monster High, WWE, BATMAN, Cut the Rope and Fruit Ninja.
Acquisitions/Mergers/Takeovers
Year: 2012
Mattel completely acquired HIT Entertainment, the owner of preschool intellectual property, including Thomas & Friends, Barney, Bob the Builder, Fireman Sam and Angelina Ballerina. Mattel acquired HIT
Mattel Inc History
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Entertainment for USD680 million in cash, from a consortium of funds led by Apax Partners.
New Products/Services
Year: 2011
American Girl introduced two different historical characters, Cecile Rey and Marie-Grace Gardner, in one six-book series set in the 19th century New Orleans.
Contracts/Agreements
Year: 2011
Fisher-Price entered into an exclusive licensing relationship with DreamWorks Animation to serve as a licensee for DreamWorks Animation's theatrical feature film releases and television series.
New Products/Services
Year: 2010
Fisher-Price introduced Dance Star Mickey in collaboration with Disney.
New Products/Services
Year: 2010
Mattel and WWE launched a comprehensive portfolio of WWE action figures and accessories. Around the same time, Fisher-Price unveiled a new collection of innovative Thomas and Friends track sets, play sets, talking engines and preschool items.
Acquisitions/Mergers/Takeovers
Year: 2009
Mattel acquired Sekkoia, owner of the award-winning game Blokus and the Blokus family of games, and also acquired the rights to the classic Whac-A-Mole game from Bob's Space Racers.
Plans/Strategy
Year: 2009
The company announced plan to expand its online focus with the development of Mattel Digital Network, a new online destination for kids and families.
Contracts/Agreements
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Year: 2009
Mattel and the Indy Racing League entered into a four-year licensing partnership for Hot Wheels product featuring IndyCar Series drivers and teams.
New Products/Services
Year: 2009
The company launched 'So In Style', a new line of black dolls by Barbie.
New Products/Services
Year: 2009
Fisher-Price unveiled the new Precious Planet Collection of baby gear and newborn toys. Mattel and Sony Pictures Consumer Products developed a new collectible line of toys based on the poltergeist fighting team, the Ghostbusters, including the cast of ghosts and ghostbusters.
Corporate Changes/Expansions
Year: 2009
HIT Entertainment, independent children's entertainment producers and rights owners, appointed Fisher- Price as the global master toy licensee for Thomas & Friends brand.
Contracts/Agreements
Year: 2008
The company signed an agreement with Creative Artists Agency to develop entertainment-based marketing programs for the company's key brands, including Barbie, Hot Wheels, Fisher-Price, Masters of the Universe, Max Steel, UNO, and Polly Pocket, among others.
Contracts/Agreements
Year: 2008
The Fisher-Price brand entered into a new licensing collaboration with ToyQuest to produce a brand new Fisher-Price backyard play program for toddlers and preschoolers.
Litigation
Year: 2008
Mattel Inc History
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A federal court jury awarded Mattel USD100 million in damages from MGA Entertainment and its Chief Executive Officer, Isaac Larian, for copyright infringement and other claims related to Mattel's rightful ownership of Bratz-related works.
Contracts/Agreements
Year: 2008
The company entered into multi-year licensing agreement with World Wrestling Entertainment (WWE) naming Mattel as WWE's master toy licensee covering all global territories.
Contracts/Agreements
Year: 2008
Mattel partnered with Screenlife and Warner Bros to create an entertaining gaming experience.
Contracts/Agreements
Year: 2007
Mattel partnered with Bonne Bell, a cosmetics company, to launch a new line of Barbie-branded cosmetics for young girls.
Product Recall
Year: 2007
The company recalled 11 toys globally, including eight pet and furniture playsets sold under the Barbie brand and three Fisher-Price toys, due to impermissible levels of lead.
Product Recall
Year: 2007
Mattel recalled 21 million toys either because they were tainted with lead paint or because they contained small magnets that could be ingested by children.
New Products/Services
Year: 2007
Fisher-Price and Mayfair, the infant/toddler apparel company, created a new line of Fisher-Price branded layette and playwear for newborns, infants and toddlers.
Mattel Inc History
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Contracts/Agreements
Year: 2006
The company entered into a new licensing partnership with Disguise to launch newly designed Barbie Halloween costumes and accessories line.
Acquisitions/Mergers/Takeovers
Year: 2006
Mattel acquired Radica, a maker of electronic entertainment toys.
Corporate Changes/Expansions
Year: 2005
Mattel consolidated its domestic Mattel Girls and Boys Brands and Fisher-Price Brands divisions into one division. There were no changes to Mattel's operating segments as a result of the consolidation.
Contracts/Agreements
Year: 2005
Mattel and Shockwave.com partnered to make and distribute a custom online game and animation series supporting the launch of the latest Hot Wheels product: Battle X.
Contracts/Agreements
Year: 2004
Fisher-Price obtained exclusive rights to develop and manufacture children's products that were protected by patents and other intellectual property owned by PurpleEyes. The agreement granted Fisher-Price exclusive rights to PurpleEyes' patents in the US, France and several other countries, in which PurpleEyes had filed for patent protection.
Acquisitions/Mergers/Takeovers
Year: 2004
Mattel acquired multi-year licensing rights for OUTBURST and OUTBURST Junior, games of verbal explosions, in the year.
Contracts/Agreements
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Year: 2004
Fisher-Price, a subsidiary of Mattel, entered into an agreement with ESPN, a worldwide sports company, to produce the ESPN GameStation, a six-in-one indoor game center for children aged five years and older.
Corporate Changes/Expansions
Year: 2003
The company consolidated its girls and boys/entertainment business units into one division, Mattel Brands. The new global division included the Barbie and Hot Wheels mega brands, as well as licensed entertainment properties.
New Products/Services
Year: 2002
The comapny launched the ello collection.
Contracts/Agreements
Year: 2001
Fisher-Price signed a licensing agreement for Barney products.
Asset Disposal
Year: 2001
The company sold The Learning Company as part of financial realignment plans.
Contracts/Agreements
Year: 2001
The company entered into licensing agreements with interactive industry leaders such as Vivendi Universal Publishing and THQ to develop and publish gaming, educational and productivity software based on Mattel's key brands, including Barbie, American Girl, Hot Wheels, Matchbox and Fisher-Price.
Contracts/Agreements
Year: 2000
Mattel Inc History
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Mattel and Nickelodeon signed a multi-year worldwide licensing agreement.
Contracts/Agreements
Year: 1999
Mattel and Bandai announced a global marketing alliance between the two companies.
Contracts/Agreements
Year: 1999
Ferrari granted Mattel worldwide exclusive rights to produce toys, apparel and accessories, and adult collectible products based upon Ferrari vehicles.
Acquisitions/Mergers/Takeovers
Year: 1999
The company completed its merger with the Learning Company, a manufacturer of software products.
Acquisitions/Mergers/Takeovers
Year: 1998
Mattel acquired Pleasant Company, a Wisconsin-based direct marketer, and Blubird Toys, the UK-based toy maker and then license holder of the Polly Pocket brand.
Acquisitions/Mergers/Takeovers
Year: 1997
Mattel merged with Tyco Toys and sold its sports brands to Wham-O.
Contracts/Agreements
Year: 1996
The company entered into a licensing agreement with Nickelodeon, an American children's channel, to make toys based on Nickelodeon characters.
Acquisitions/Mergers/Takeovers
Year: 1994
Mattel Inc History
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The company also acquired the toy company, Kransco.
Acquisitions/Mergers/Takeovers
Year: 1994
The purchase of the British company JW Spear & Sons gave Mattel the international rights to the word game, Scrabble.
Acquisitions/Mergers/Takeovers
Year: 1993
Mattel's core brand strategy was further strengthened by the merger with Fisher-Price.
Acquisitions/Mergers/Takeovers
Year: 1992
Mattel acquired International Games.
Acquisitions/Mergers/Takeovers
Year: 1991
The company acquired Aviva Sports, a maker of sport toys.
Acquisitions/Mergers/Takeovers
Year: 1988
The company acquired the French doll maker, Corolle, and Corgi Toys, a British maker of scale model die-cast cars.
Acquisitions/Mergers/Takeovers
Year: 1986
Mattel acquired Hong Kong-based ARCO Industries, and entered into a joint venture arrangement with Bandai to market and sell products in Japan.
New Products/Services
Year: 1980
Mattel Inc History
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The company launched first of its boys toys with the He-Man and the Masters of The Universe merchandise range.
Corporate Changes/Expansions
Year: 1977
Mattel entered the electronic games market.
Acquisitions/Mergers/Takeovers
Year: 1968
The company acquired Monogram Models as part of its World of the Young strategy.
New Products/Services
Year: 1968
The company rolled-out die-cast vehicles, Hot Wheels.
Corporate Changes/Expansions
Year: 1965
Mattel's sales crossed USD100 million and it entered the Fortune 500 list. The company entered the educational preschool market through the introduction of 'See n Say' talking toy.
Commercial Operation
Year: 1964
Mattel opened its first sales office in Switzerland as headquarters for the company's worldwide marketing program.
Stock Listings/IPO
Year: 1963
The company's stock listed on the New York and Pacific Coast stock exchanges.
New Products/Services
Year: 1959
Mattel Inc History
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Mattel introduced the Barbie doll.
Incorporation/Establishment
Year: 1948
The company was incorporated in Hawthorne, California as Mattel, Inc.
New Products/Services
Year: 1947
The company launched the first line of musical toys called 'Uke-A-Doodle'.
Incorporation/Establishment
Year: 1945
Harold Matson and Elliot and Ruth Handler founded Mattel, when the company began operating out of a garage workshop. The first Mattel product was a picture frame, but the company also developed a side business in dollhouse furniture.
Mattel Inc Key Employees
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Key Employees
KEY EMPLOYEES
Name Job Title Board Ynon Kreiz Chairman, Chief Executive Officer Executive Board Adriana Cisneros Director Non Executive Board Roger Lynch Director Non Executive Board Judy D. Olian Director Non Executive Board R. Todd Bradley Director Non Executive Board Joseph J. Euteneuer Chief Financial Officer Senior Management Soren T. Laursen Executive Director Executive Board Dena Cook Global Head-Communications and Public
Relations Senior Management
Robert Normile Chief Legal Officer, Executive Vice President, Secretary
Senior Management
Richard Dickson Chief Operating Officer, President Senior Management Steve Totzke Chief Communications Officer Senior Management Amanda J.Thompson Chief People Officer, Executive Vice
President Senior Management
Jamie Cygielman General Manager-American Girl, Senior Vice President
Senior Management
Sven Gerjets Chief Technology Officer Senior Management Dominic Ng Director Non Executive Board Vasant M. Prabhu Director Non Executive Board Ann Lewnes Director Non Executive Board Michael J. Dolan Director Non Executive Board Roberto Isaias Executive Vice President, Chief Supply
Chain Officer Senior Management
Mattel Inc Key Employee Biographies
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Key Employee Biographies
KEY EMPLOYEE BIOGRAPHIES
Ynon Kreiz
Board:Executive Board Job Title:Chairman, Chief Executive Officer Since:2018 Age:54
Mr. Kreiz has been appointed as the Chairman and Chief Executive Officer of the company since 2018. Previously, he served as the Chairman of Maker Studios Inc from 2012 to 2014 and the Chief Executive Officer of Maker Studios Inc from 2013 to 2015. Earlier he served as the Chairman and Chief Executive Officer of Endemol Group from 2008 to 2011. Previously, he served as a General Partner of Balderton Capital from 2005 to 2007, and as the Chairman and Chief Executive Officer of Fox Kids Europe N.V. from 1996 to 2002. He also served as the Chairman of Showmax since 2017, in the Board of Advisors, Anderson Graduate School of Management at UCLA since 2015, as the Chairman of Cortica Inc. from 2012 to 2014, and as the Chairman of Board of Trustees of Israeli Olympic Committee, London Games.
Joseph J. Euteneuer
Board:Senior Management Job Title:Chief Financial Officer Since:2017 Age:63
Mr. Euteneuer has been appointed as the Chief Financial Officer of the company since 2017. Previously, he worked as a Co-Chief Executive Officer and Chief Financial Officer of the Americas of Rivada Networks, LLC from 2016 to 2017 and as the Chief Financial Officer of Sprint Corp from 2011 to 2015. Mr. Euteneuer also served as the Chief Financial Officer and Vice President of Qwest Communications International Inc., from 2008 to 2011 and as the Chief Financial Officer and Vice President of XM Satellite Radio Holdings Inc., from 2002 to 2008. Earlier, he served as the Chief Financial Officer and Vice President of Broadnet Europe, a subsidiary of Comcast Corp., from 2000 to 2002, and as its Vice President, Corporate Development and Corporate Controller from 1988 to 2000. Prior to that, he was working as the Chief Operating Officer of LaCanasta Mexican Foods International. He held various leadership roles at Deloitte and PricewaterhouseCoopers.
Robert Normile
Board:Senior Management Job Title:Chief Legal Officer, Executive Vice President, Secretary Since:2011 Age:59
Mattel Inc Key Employee Biographies
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Mr. Normile has been appointed as the Chief Legal Officer, Vice President and Secretary of the company since 2011. Previously, he worked as the General Counsel, Senior Vice President and Secretary of the company from 1999 to 2011. He also served as the Associate General Counsel, the Vice President and Secretary of the company from 1994 to 1999 and an Assistant General Counsel from 1992 to 1994. Prior to joining the company, he worked with the law firms at Latham & Watkins, and Sullivan & Cromwell.
Richard Dickson
Board:Senior Management Job Title:Chief Operating Officer, President Since:2015 Age:51
Mr. Dickson has been appointed as the President and Chief Operating Officer of the company since 2015. Previously, he worked as Chief Brands Officer and President of the company in 2015 and Chief Brands Officer from 2014 to 2015. Mr. Dickson also served as the Chief Executive Officer and President of Branded Businesses of The Jones Group from 2010 to 2014 and the Senior Vice President and General Manager of Barbie of Mattel from 2008 to 2010. He was a Senior Vice President of the company, overseeing consumer products, marketing, media, entertainment and packaging from 2000 to 2008. Prior to this company, he worked as the Vice President of Brand Management and Merchandising of Estee Lauder Companies and the Principal of Gloss.com, an e-commerce beauty website.
Amanda J.Thompson
Board:Senior Management Job Title:Chief People Officer, Executive Vice President Since:2017 Age:43
Ms. Thompson has been appointed as the Executive Vice President and Chief People Officer of the company since 2017. Previously, she served as the Chief People Officer of TOMS Shoes from 2012 to 2017. She held various leadership position at Starbucks Coffee Company from 2006 to 2012, including Vice President of Human Resources, Strategic Initiatives; Vice President of Human Resources, China and the Asia Pacific Region; and Vice President of Human Resources, Seattle’s Best Coffee. From 2003 to 2006, Ms. Thompson served as a Senior Director, Employee and Organization Development of Ticketmaster Corporation. She also served as a Director, Human Resources of CitySearch.com since 2017.
Sven Gerjets
Board:Senior Management Job Title:Chief Technology Officer Since:2017
Mr. Gerjets has been appointed as the Chief Technology Officer of the company since 2017. He also served as the Chief Product Officer of n.io Innovation since 2017. Previously, he worked as the Chief
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Information Officer of Time Warner Cable, Inc., from 2015 to 2016 and as the Chief Technology Officer of Pearson from 2014 to 2015. Earlier, Mr. Gerjets served to various executive roles at DIRECTV, Inc., including Senior Vice President, Information Technology from 2011 to 2014; Vice President, IT Solution Delivery, from 2009 to 2011; and Senior Director, IT Operations from 2007 to 2009. From 2005 to 2007, Mr. Gerjets also served as a Director, Information Technology of Symantec Corporation. He also worked as the co-founder and Chief Technology Officer of GeneticMedic from 2003 to 2005. He also held various leadership positions with AT&T Wireless Services, including Director, IT Operations from 2000 to 2003; and Director, Business and Logical Security from 1997 to 2000.
Roberto Isaias
Board:Senior Management Job Title:Executive Vice President, Chief Supply Chain Officer Since:2019 Age:56
Mr. Isaias has been appointed as Executive Vice President and Chief Supply Chain Officer of the company since 2019. Previously, he also served as Senior Vice President and Managing Director – Latin America of the company from 2014 to 2019. Prior to this, he served as Senior Vice President and General Manager – Latin America (except Brazil) of the company during 2011 to 2014. Before that, he served as Vice President and General Manager – Mexico of the company from 2007 to 2011.
Mattel Inc Major Products & Services
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Major Products & Services
MAJOR PRODUCTS & SERVICES
Mattel Inc (Mattel or 'the company') designs, manufactures and markets toys. The company's key products include the following:
Products:
Infants and Preschoolers Toys Dolls Vehicles Action Figures Construction Toys Youth Electronics Hand-Held Puzzles Educational Toys Technology-Related Toys Media-Driven Toys Fashion-Related Toys
Brands:
Barbie Hot Wheels Fisher-Price and Thomas & Friends American Girl Toy Box MEGA Polly Pocket Uno Enchantimals Fireman Sam Matchbox
Mattel Inc SWOT Analysis
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SWOT Analysis
SWOT ANALYSIS
Mattel, Inc. (Mattel or “the company) designs, manufactures, and markets of toys. Strong brand portfolio, worldwide distribution network, strong manufacturing facilities, and licensing agreements and partnerships are the company's major strengths, whereas decline inventory turnover ratio, and high customer concentration remain causes for concern. Increase in consumer spending in the US, positive outlook for media market in North America, and expand product portfolio are likely to offer growth opportunities to the company. However, significant changes in currency exchange rates, stringent government regulations and increase in organized retail crime could affect its business operations.
Strength
Strong brand portfolio Worldwide distribution network Licensing agreements and partnerships Strong manufacturing facilities
Weakness
Decline inventory turnover ratio High customer concentration
Opportunity
Positive outlook for media market in North America Expand product portfolio Increase in consumer spending in the US
Threat
Significant changes in currency exchange rates Increase in organized retail crime Stringent government regulations
Strength
Strong brand portfolio
Mattel has some of the highly recognized brands in the industry, and its core brands provide it with steady sales and earnings. Mattel's product lineup consists of some of the best-known brands in children's toys, including Barbie, Hot Wheels, American Girl, Thomas & Friends and Fisher-Price. Barbie includes Barbie fashion dolls and accessories. Wheels includes Hot Wheels and Matchbox vehicles and play sets. Mattel also owns Fisher-Price, one of the leading brands in the global infant and preschool toys category. The Fisher-Price brands category includes brands such as Fisher-Price, Little People, BabyGear, Laugh & Learn, Think & Learn, Imaginext, Thomas & Friends, Dora & Friends, Blaze and The Monster Machines, Mickey Mouse Clubhouse, Shimmer and Shine, Minnie Mouse, Octonauts, Disney Jake and the Never Land Pirates, and Power Wheels. The Construction and Arts & Crafts brands category includes MEGA BLOKS and RoseArt. Strong global brands provide a competitive advantage to Mattel in most of the markets in which it operates. Furthermore, the high acceptance of brands helps the company penetrate into new and existing markets.
Worldwide distribution network
Mattel is able to maintain its large scale of business through its global distribution network that reaches a
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large customer base. The company has its presence in 50 countries and territories. In North America, Mattel sells products to retailers including department stores, other retail outlets, chain stores, and discount and free-standing toy stores. Under the segment, its distribution and warehouse facility are in California, Pennsylvania, and Texas. Through International segment, the company designs, produces, and markets through retailers and wholesalers in Australia and New Zealand, and countries in Latin America, Asia, and Europe. Under the segment, its warehouse units are in Argentina, Australia, Austria, Belgium, Bermuda, Brazil, Canada, Chile, China, Colombia, the Czech Republic, Denmark, France, Germany, Greece, Hong Kong, Hungary, India, Indonesia, Italy, Japan, Malaysia, Mexico, the Netherlands, New Zealand, Panama, Peru, Poland, Portugal, Russia, Singapore, South Africa, South Korea, Spain, Switzerland, Taiwan, Turkey, and the UK. Mattel markets its products through agents and distributors in countries where it has no direct presence. The company also sells certain products through its websites of one or more of its subsidiaries. A wide sales distribution network helps Mattel target different customer segments. It also enables the company to diversify its business operation risk to a number of sales channels and across different countries.
Licensing agreements and partnerships
The company has licensing agreements with several entertainment brands that allow it to utilize the trademark, characters, or inventions of the licensor in products that Mattel sells. This provides additional revenue sources for the company. The company has partnerships with Disney Enterprises for licensing its entertainment properties (Disney characters such as Star Wars, Mickey Mouse, Jake and the Never Land Pirates, Disney Planes, CARS and Toy Story from Pixar, and certain Disney films and television properties). The company has a licensing agreement with Viacom International, which allows it to produce and sell Nickelodeon properties, including Dora the Explorer, Blaze and the Monster Machines, and SpongeBob SquarePants. Mattel's licensing agreement with Warner Bros. offers it rights to use the trademarks related to Batman, Superman, Wonder Woman, Justice League, and DC Super Hero Girls. Furthermore, Mattel has licensing agreements with NBCUniversal Media for the Fast & Furious and Jurassic World franchises. Other significant licensed properties owned by Mattel are Microsoft (including Halo), Mojang (including Minecraft), and WWE Wrestling.
Strong manufacturing facilities
Mattel had a strong manufacturing network worldwide. The company’s major manufacturing facilities are in Indonesia, Malaysia, Mexico, and Thailand. Under its North America business segment, the company’s manufacturing facilities are in East Aurora, New York with 607,000 sq. ft. area. Its American Girl manufacturing facilities are in Middleton, Wisconsin with 180,000 sq. ft. area, and the company also leased a manufacturing facility in Canada with 817,000 sq. ft. This facility is used by the company under its North America and International business segments. Strong manufacturing capabilities enable the company to effectively handle fluctuations in demand, which helps to integrate its operations and serve the growing needs of its customers efficiently.
Weakness
Decline inventory turnover ratio
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The company’s inventory turnover ratio declined in FY2018. At the end of FY2018, the company reported inventory turnover ratio was 4.7 as compared to 5 at the end of FY2017. The company’s inventory turnover ratio was lower than its nearest competitors including JAKKS Pacific Inc (7.3), and Hasbro Inc (5) during the same fiscal year. Lower inventory turnover than competitors indicates that the company takes more days to clear its inventory in comparison with its competitors. With the given turnover ratio, Mattel takes 78 days to sale its inventory compared to 50 days by JAKKS Pacific Inc and 73 days by Hasbro Inc. The decline in the turnover ratio and higher inventory turnover days signify that the company incurs high inventory carrying costs, which affect its operating performance.
High customer concentration
The company generates major portion of its revenues from its customers like Wal-Mart, and Target. For instance, in FY2018, Mattel's two largest customers accounted for nearly 34% of net sales, while its ten largest customers accounted for nearly 49% of net sales. Furthermore, the two largest customers accounted for approximately 33% of net accounts receivable in FY2018 and its ten largest customers accounted for nearly 49% of net accounts receivable. High customer concentration makes Mattel susceptible to risks regarding significant reduction in purchases by these customers due to any reason, which would lower the company’s bargaining power. This, in turn, would impact its top line and bottom line growth.
Opportunity
Positive outlook for media market in North America
Mattel stands to benefit from growing media market across North America. The increase in smartphone penetration has caused a shift in the advertising industry to a more digital field across the region. According to in-house research, the North American media market is expected to reach a value of US$348.6 billion by 2022 from US$330.7 billion in 2017. Product category wise, broadcasting and cable TV accounted for 57.5% of the total value of North American media market, followed by publishing with 20.7%, advertising with 13.2%, and movies and entertainment with 8.6% in 2017. Geographically, the US accounted for 94.9% of the total value of North American media market, followed by Canada with 3.1%, and Mexico with 2% in 2007. To tap the market growth, the company took some initiatives, including in May 2019, the company expanded its global licensing agreement with Disney and Pixar Animation Studio for releasing new movies including Onward by 2020. During the same month of 2019, the company made a plan to build multi-branded family entertainment centers by 2020. The multi-branded family entertainment center offers hands-on play and entertainment experiences with a combination of physical and digital play under Mattel’s brand. The company started the construction of its first Mattel-branded family entertainment centers with 25,000 sq. ft. is in Toronto, and is expected to complete by 2020. In February 2019, the company signed a partnership with Metro Goldwyn Mayer Pictures to create a live action motion picture based on Mattel's classic toy line, View-Master and Mattel's classic American Girl. In February 2019, the company launched a new slate of 22 animated and live-action TV programs including action adventure, humor, game shows, music and many more. It was produced by Mattel Television for multi-platform distribution. In January 2019, the company signed a partnership agreement with Warner Bros. Pictures Group to create live-action feature film. Such partnership and agreement could enable to build a strong position in digital media and entertainment market across North America.
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Expand product portfolio
Mattel launched a wide range of products in FY2018. For instance, in June 2019, the company signed a partnership agreement with Sanrio Inc for designing and developing new toys including dolls, playsets, games, puzzles, baby gear, plush, vehicles and other products. It also offers a wide range of characters under Sanrio including Hello Kitty, Keroppi, Chococat, Badtz-Maru, Little Twin Stars, Tuxedosam, Pompompurin, My Melody, Hangyodon, and Pochacco. These products will be available in Australia, New Zealand and countries in North America by 2020. In January 2019, the company entered into a licensing agreement with BTS. to launch a wide categories of toys including dolls, collectible figures, games, and many more. The launch of new products could enable to strengthen its leadership position in toys business segment worldwide.
Increase in consumer spending in the US
Mattel stands to benefit from the increase in consumer spending in the US. According to the U.S. Bureau of Economic Analysis (BEA), in April 2019, the personal income (PI) in the US increased by 0.5% or US$92.8 billion, disposable personal income (DPI) increased by 0.4% or US$69.3 billion, and personal consumption expenditures increased by 0.3% or US$40.8 billion from the previous month. In March 2019, the personal income (PI) in the US increased by 0.1% or US$40.2 billion, disposable personal income (DPI) increased by 0.1% or US$0.6 billion and the personal consumption expenditure increased by 0.9% or US$123.5 billion from the previous month. Growing personal income, disposable personal income and personal consumption expenditure indicate improved consumer spending in the US, which could increase the purchase of its products and its performance.
Threat
Significant changes in currency exchange rates
Mattel operates facilities and sells products in numerous countries outside the US. In FY2018, the company’s net sales to international customers comprised 45.6% of its total consolidated net sales. Furthermore, Mattel’s net investment in its foreign subsidiaries and its results of operations and cash flows are subject to changes in currency exchange rates and regulations. Highly inflationary economies of certain foreign countries can result in foreign currency devaluation, which negatively impacts the company’s profitability. In FY2018, the company reported a loss of US$106.6 million from foreign currency translation as compared to a gain of US$191.3 million in FY2017. Significant changes in currency exchange rates, reductions in Mattel’s ability to transfer its capital across borders, and changes in government-fixed currency exchange rates, including Euro, Canadian dollar, Mexican peso, Brazilian real, British pound, and Chinese renminbi, could have a significant adverse effect on Mattel’s business and results of operations.
Increase in organized retail crime
Rise of organized retail crime (ORC) could adversely affect the profits of retailers. According to a survey conducted by the National Retail Federation in 2018, ORC continues to be a serious threat and costs
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retailers US$777,877 per US$1 billion dollars in sales. In the survey, about three in four respondents saw an increase in ORC, while over seven respondents in ten saw the need for a new government regulation to effectively fight ORC. Many consumers are now turning to auction sites to find budgeted deals, which provide a market for stolen goods. ORC poses a challenge to the company's in-store sales and could limit its revenue.
Stringent government regulations
Mattel is engaged in the production of various products that come directly under the purview of several government and regulatory bodies. The company operates in the highly regulated environment in the US and international markets. Its products and the importation and exportation of its products are subject to regulations by various state, US federal, local governmental entities, and foreign governments. These regulations may include accounting standards, taxation requirements (including changes in applicable income tax rates, new tax laws and revised tax law interpretations), product safety and other safety standards, trade restrictions, duties and tariffs, and regulations regarding currency and financial matters, anticorruption standards (such as the US Foreign Corrupt Practices Act), environmental matters, advertising directed toward children, product content, and privacy and data protection, as well as other administrative and regulatory restrictions. Compliance to various laws and regulations imposes significant costs on Mattel's business. On the other hand, non-compliance to these laws and regulations could lead to monetary liabilities and other penalties, as well as negative media attention and consumer dissatisfaction, which, in turn, could affect the company's business, results of operations and financial condition.
Mattel Inc Top Competitors
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Top Competitors
TOP COMPETITORS
The following companies are the major competitors of Mattel Inc
Giochi Preziosi SpA Hasbro, Inc. JAKKS Pacific, Inc. Lego AS MGA Entertainment Inc Moose Toys Ravensburger AG SIMBA-DICKIE-GROUP GmbH Spin Master Ltd. VTech Holdings Limited
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Company View
COMPANY VIEW
A statement by Mr. Ynon Kreiz, the Chairman and Chief Executive Officer of Mattel Inc is given below. The statement has been taken from the company’s 2018 Annual Report.
I often say that at Mattel we have a lot to play with and a lot to play for and I believe this aptly describes where we are today. We are a company with a great legacy and deep heritage and our iconic brands continue to transcend generations. We have a world-class team of creative talent and business leaders united by our passion to create innovative products and experiences that inspire, entertain and develop kids through play.
Since becoming CEO in April 2018, I’ve had the privilege of leading this great organization that is committed to transforming Mattel into an IP-driven, high-performing toy company. To do this, we are successfully executing our two-part strategy.
In the short-to-mid-term, we are working to restore profitability by reshaping operations and to regain topline growth by growing our Power Brands and expanding our brand portfolio.
In the mid-to-long term, we will aim to capture the full value of our IP through franchise management and the development of our online retail and e-commerce capabilities.
Progress on Short-to-Mid Term Strategic Priorities
In 2018, we made meaningful progress towards executing our strategy and demonstrated tangible results1 even in the face of considerable retail disruption in the global toy industry:
We achieved $521 million of run-rate cost savings exiting 2018; We reported the first full year gross margin improvement since 2013; We delivered the largest year-over-year improvement in operating income since 2012; Barbie achieved its highest full year gross sales in the last five years; Hot Wheels reached its highest annual sales in its 50- year history; and We recaptured our position as the #1 global toy company.
Our performance last year is a testament to Mattel’s strong brands, our ability to execute methodically even in tough market conditions, as well as our strategic and long-standing relationships with our retail partners.
Barbie and Hot Wheels continued their momentum throughout 2018. Barbie was the number one global fashion doll property last year. We look forward to celebrating Barbie’s 60th anniversary throughout 2019 with a number of exciting product launches and events to continue to keep the brand on the leading edge of relevance for kids. Equally impressive was the performance of Hot Wheels, the #1 property globally in the vehicles super category in 2018.
We are also encouraged by our positive momentum with third-party IP, which presents a clear avenue for incremental revenue. In 2018, Jurassic World exceeded all expectations, delivering the biggest toy year
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ever for the franchise5 in partnership with NBC Universal. This is a great example of how we are advancing Mattel as a partner of choice for third-party IP owners by leveraging our worldwide reach through innovation and global execution capabilities.
In addition to the resonance of our brands, Mattel teams around the world worked diligently in collaboration with retailers as they leaned into their toy aisles to ensure that our toy franchises would be well-received throughout the holiday season and beyond.
Laying the Groundwork for our Mid-to-Long Term Strategic Priorities
Mattel is the proud owner of one of the strongest portfolios of kids and family entertainment franchises in the world - running deep across demographics and toy categories.
Because toys play a role in every child’s development and upbringing, they can drive an incredibly high level of engagement and emotional connection. And with that built-in relationship, there is a very natural opportunity for us to extend our toy franchises into new areas to drive top-line performance and greater profitability.
Over the past year, we have begun laying the groundwork to capture the full value of our IP through adjacent, highly accretive business verticals.
Central to this strategy is our creation of Mattel Films, Mattel Television and our Global Franchise Management organization, with newly-appointed senior leadership. Key highlights include:
Mattel Films has already made several announcements for the first ever live-action feature films for some of our key franchises in partnership with major film studios. These include Barbie and Hot Wheels with Warner Bros. Pictures Group, Masters of the Universe with Sony Pictures Entertainment and American Girl and View-Master, with Metro Goldwyn Meyer Pictures (MGM).
We have created a virtual studio model with a capital light business strategy designed to drive opportunities for upside, while mitigating financial risk. Mattel Films will partner with major studios and key talent, “quarterback” the creative process, take a proactive role in the development of the storylines and bring to the table our first-hand expertise and knowledge of these iconic brands.
Mattel Television recently announced a slate of 22 television programs that we are taking to market. This slate encompasses both animated and live action television programs, developed on the basis of Mattel’s iconic and globally-recognized characters and franchises, as well as new IP. These programs are being developed for multi-platform distribution.
Our Global Franchise Management Organization is targeting opportunities to develop our IP and extend our iconic franchises across digital gaming, live events, music and consumer products. We look forward to giving consumers more opportunities to engage with our brands across these formats and platforms.
Positioned for Continued Leadership: Better p Leveraging our Category Expertise and Design gg g y p g Excellence
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With our transformation under way, we also made fundamental changes that will better leverage our category expertise and design excellence to strengthen our leadership position.
We restructured our Global Brand Team by category to align our structure with our strategy. This enables our best talent to manage our extensive portfolio rather than individual franchises, while at the same time leveraging our Power Brands as category flagships. This will also drive increased collaboration as we aim to bring more marketing opportunities, cross promotions and game changing products to the market.
We consolidated our design and product development teams. This will ensure that the best ideas get the most creative exposure, while enabling complete integration of our creative process. Having our innovative design and development teams working more closely with each other will be a major contributor to our continued leadership when it comes to creating products and experiences that inspire, entertain and develop kids through play.
These structural changes to our organization reflect a performance-driven, results-oriented, culture which is built on collaboration, innovation and execution. At the core of these organizational changes is a commitment to empower decision-making and drive accountability at all levels.
Continuing to Deliver Tangible Results
After a year of solid execution, we are clearly advancing our strategy to transform Mattel into an IP-driven, high performing toy company. I am confident we have the right strategy, the right assets and the right team to continue to deliver tangible results. In 2019, we remain focused on executing our plan methodically and driving Mattel towards sustainable, profitable growth. This will position us well for continued momentum and long-term value creation for our shareholders.
Thank you for your continued support
Mattel Inc Locations And Subsidiaries
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Locations And Subsidiaries
LOCATIONS AND SUBSIDIARIES
Head Office
Mattel Inc 333 Continental Boulevard El Segundo California El Segundo California USA Phone:1 310 5243607 www.mattel.com
Other Locations and Subsidiaries
American Girl LLC USA
HiT Entertainment LLC USA
Mattel Europa, B.V. Gondel 1 Amstelveen Amstelveen NLD Phone:31 20 503 0503 Fax:31 20 503 0544
Sunshine Holdings 3 Ltd GBR
A Progressive Digital Media business
John Carpenter House, John Carpenter Street, London, United Kingdom, EC4Y 0AN T: +44 (0) 203 377 3042 | F: +44 (0) 870 134 4371 | E: [email protected] | W: www.marketline.com
- Company Overview
- Key Facts
- Business Description
- History
- Key Employees
- Key Employee Biographies
- Major Products & Services
- SWOT Analysis
- Top Competitors
- Company View
- Locations And Subsidiaries
