Mattel (MAT) Morgan Stanley Global Consumer & Retail Conference summary

Strategic transformation and growth vision

• Transitioned from a toy manufacturer to an IP-driven franchise manager, focusing on expanding entertainment offerings and leveraging brand strength across multiple verticals.

• Emphasizes consumer-centric innovation and a franchise mindset to maximize brand reach and cultural relevance globally.

• Sees significant opportunity in both core toy business and adjacent high-margin entertainment sectors.

• Building emotional connections with fans is central to the strategy, aiming to grow beyond the traditional toy aisle.

• Actively scaling opportunities in film, television, digital games, and location-based entertainment.

Industry outlook and entertainment slate

• Toy industry has shown steady growth in 23 of the last 25 years, with resilience despite recent declines post-COVID.

• Industry is reverting to historical purchasing patterns, with theatrical movie releases driving demand and creating a halo effect.

• Strong entertainment slate includes partnerships with major IP owners and upcoming movies like Moana 2, Wicked, Minecraft, and Jurassic World.

• Anticipates benefits from current and future movie tie-ins extending into 2025 and beyond.

Brand performance and holiday season expectations

• Strong Black Friday performance and momentum across key brands, including Barbie, Hot Wheels, Monster High, and Fisher-Price.

• Barbie's 65th anniversary and movie success have broadened its appeal and driven global activations.

• Hot Wheels is on track for its seventh consecutive record year; Fisher-Price and new launches like Barney are expected to contribute to growth.

• Expanded retail presence in 500,000 stores worldwide, with increased marketing and retailer support for the holiday season.