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HomeBusinessMattel CEO Ynon Kreiz says 'Barbie' film manufacturing begins subsequent month

Mattel CEO Ynon Kreiz says ‘Barbie’ film manufacturing begins subsequent month

Mattel CEO Ynon Kreiz instructed CNBC on Thursday the upcoming “Barbie” film will start manufacturing “this coming March” — the identical month the long-lasting doll turns 63.

“It has an unimaginable solid, with Margot Robbie enjoying Barbie, Ryan Gosling enjoying Ken. We simply introduced America Ferrera to affix the solid,” Kreiz mentioned on “Squawk Box.” “Girl Hen” and “Little Girls” filmmaker Greta Gerwig is writing and directing “Barbie.” Mattel has saved the film’s plot underneath wraps.

Kreiz mentioned Barbie noticed document gross sales in fiscal 2021, rising 24% 12 months over 12 months. “Barbie, at 63, remains to be probably the most various doll available in the market, it continues to evolve, be extra related than ever, each timeless and well timed,” he mentioned. “We count on one other progress 12 months for Barbie in 2022.”

Barbie may also star in a Tremendous Bowl commercial that includes actress Anna Kendrick.

Mattel shares jumped greater than 9% on Thursday, in the future after posting stronger-than-expected earnings and income for the fourth quarter and a rosy outlook. The inventory has gained almost 15% in 2022 and over 33% up to now 12 months. Kriez mentioned the corporate’s “turnaround is full” and Mattel is now in “progress mode.”

Mattel additionally not too long ago won back the license to make toys primarily based on Disney’s princess lineup, together with the favored Frozen franchise. Mattel misplaced the license to rival Hasbro in 2016, which sparked a interval of monetary troubles at Mattel and energetic turnover within the C-suite. Hasbro even approached Mattel a couple of takeover in 2017, although a deal never materialized.

Kreiz, who joined Mattel as CEO in 2018, mentioned the corporate will go into manufacturing with a “Masters of Universe” movie in partnership with Netflix this summer time

Mattel at the moment has greater than 20 TV reveals in manufacturing.

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