In April 2018, Mattel Inc. (NASDAQ: MAT) hired Ynon Kreiz, 53, as its new chairman and chief executive – the company’s fourth in five years. The company’s stock is at a 10-year low. Kreiz is hoping to turn the ship around by investing in one of its most iconic brands, Barbie, the toy doll who turned 59 this year.
According to The New York Times, Mattel will soon announce a live-action Barbie film starring 28-year-old Australian-born Oscar Award-nominated actress Margot Robbie (“I, Tonya” SEE LINK BELOW). Barbie isn’t the only Mattel brand to get the Hollywood treatment. Kreiz is creating an in-house studio, Mattel Films, led by female producer Robbie Brenner, another Oscar nominee (“Dallas Buyers Club”).
Wall Street analysts like Michael Swartz at SunTrust Robinson Humphrey think it’s a good idea. Swartz says: “Mattel is doing what should have been done 10 years ago.” However, playing around with iconic children’s brands isn’t never a sure thing. But what is in Hollywood?
Exclusive: After being in development for years at Sony, Mattel is partnering with Warner Bros. for a feature film based on #Barbie with @MargotRobbie in talks to star https://t.co/dDAbrbBtOi pic.twitter.com/m5MmHKpItD
— Hollywood Reporter (@THR) October 5, 2018