Mattel Mission Statement Analysis

Company: Mattel, Inc.
CEO: Ynon Kreiz
Year founded: 1945
Headquarters: El Segundo, California, USA
Number of Employees: 34,000
Type: Public
Ticker Symbol: MAT
Market Cap (Mar 2025): $5.43 Billion
Annual Revenue (FY 2024): $5.4 Billion
Profit | Net income (FY 2024): $543 Million

Products & Services: Toys | Entertainment Content | Consumer Products | Digital & Live Experiences

Did you know? Mattel’s iconic President Barbie doll has run for president 7 times since 1992.

Mattel is a leading toy manufacturing and entertainment company founded by Ruth Handler, Elliot Handler, and Harold Matson. It owns iconic brands like Barbie, Hot Wheels, Fisher-Price, UNO, American Girl, Thomas & Friends, Masters of the Universe, Monster High, MEGA, Matchbox, and Polly Pocket. Mattel’s mission, purpose, brand promise, and sustainability strategy. In FY2024, Mattel generated $5.4 billion in annual revenue and $543 in profit. [1]

Mattel is one of the world’s top three toymakers. It sells dolls, action figures, games, puzzles, toy vehicles, and youth electronics in over 150 countries. Mattel’s top customers include Wal-Mart, Target, and Amazon. North America is Mattel’s most significant sales market. In 2023, Mattel generated $3.2 billion in North America and $1.24 billion in EMEA. Its top-selling brand was Barbie, which made $1.54 billion, followed by Hot Wheels at $1.4 billion and Fisher-Price at $852.6 million. [2]

To understand why Mattel is so successful, here is a comprehensive analysis of its mission statement, purpose, brand promise, and sustainability strategy:

Mattel’s Mission Statement

To create innovative products and experiences that inspire fans, entertain audiences, and develop children through play. [3]

Here is our analysis of Mattel’s mission statement.

1. Create innovative products

Mattel strives to create innovative toys, games, puzzles, and entertainment content. It won the Digital Transformation Award at the 2024 Supply Chain Excellence Awards USA. In Mar 2024, Mattel was #17 on Fast Company’s 2024 Most Innovative Companies list. It earned this by transforming its heritage brand into a modern cultural event. [4]

Mattel has dominated the toys and entertainment sector for 80 years. It designs and manufactures the world’s most iconic dolls, including Barbie and Hot Wheels. In Apr 2024, Mattel announced plans to close one of its Chinese manufacturing plants. The company produces 50% of its products in China. It has several manufacturing plants in Malaysia, Thailand and Indonesia. [5]

2. Deliver memorable experiences

Mattel aims to deliver memorable experiences to consumers. The company achieves this mission by collaborating with leading entertainment houses. In Mar 2025, Mattel renewed its multi-year global licensing agreement with Disney for new products commemorating Toy Story’s 30^th anniversary and announced the release date of Toy Story 5. Its Toy Story line includes action figures, vehicles, radio control, games, and plush.

Mattel plans to expand its action figures in 2026 with a memorable movie and characters and introduce a Toy Story 5-themed edition inspired by the film under its UNO brand. It will also launch a new Toy Story plush range and radio control products, delivering unforgettable movie moments to kids worldwide. In 2025, Mattel celebrated its 80^th anniversary. [6]

3. Inspire kids

Mattel strives to empower children to explore childhood wonders and reach their full potential. The company has worked to achieve this mission since its founding. In Feb 2025, Mattel released two new Barbie dolls to celebrate the music industry. The 2025 Career of the Year: Women in Music set and the Alicia Keys and Ann Mincieli Barbie Role Model dolls inspire kids to maximize their musical talents and embrace two careers: musical artist and tour manager. Each doll has career-related clothing and accessories, including guitars, microphones, an all-access pass, laptops, and hand radios. [7]

4. Entertain consumers

Mattel seeks to entertain kids and families with innovative products. Its 65-year-old Barbie doll and 30-year-old Toy Story have entertained children for 65 decades. The company also achieves this mission by offering world-class animated movies and experiences. In Aug 2023, Mattel announced plans to establish an adventure park in Arizona with a life-size Barbie Beach House and Hot Wheels rollercoasters. It will be Arizona’s first fully themed indoor and outdoor amusement park and provide a year-round Arizona entertainment destination. [8]

5. Develop children through play

Mattel is committed to developing children through play. “Play is our language. We speak to our consumers authentically by representing the world as they see and imagine it,” says the company. Mattel leverages its Purposeful Play program to harness its brands’ cultural impact to promote and influence behavior on social and environmental issues, creating a better world. It creates toys appropriate for children at various developmental stages to match their current abilities and challenge them to learn and grow. For example, Mattel’s Barbie and American Girl dolls encourage pretend play, self-expression, and imagination. They empower kids to develop empathy and social skills, including caregiving, friendship, collaboration, and conflict resolution. [9]

Mattel integrates purposeful play in all its products. Hot Wheels and Matchbox cars offer an exciting way to play and experiment with energy, force, scale, and motion. Infants, toddlers, and preschool children can play with Mattel’s Fisher-Price ride-on vehicles and playsets to enhance sensory development and awareness, fine and gross motor skills, problem-solving, cooperation, and emotional intelligence. In Jun 2024, Mattel joined the state of California and the United Nations to celebrate the International Day of Play. It donated 100,000 toys and books from the Mattel Children’s Foundation to Save the Children and over 150,000 toys to more than 7,000 children on Jun 11. [10]

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Mattel’s Purpose Statement

“Empower generations to explore the wonder of childhood and reach their full potential.” [11]

Mattel is committed to empowering generations to achieve their dreams. For example, it uses Barbie dolls to remind girls of their limitless potential and inspire them to pursue their dream careers. In Aug 2024, Mattel unveiled its Barbie brand campaign titled “Give Limitless Possibilities.” The company partnered with Barbie Role Model and WNBA legend Sue Bird on the campaign, supercharging its “You Can Be Anything” tagline. Barbie dolls leverage the power of imagination to project dreams, build self-esteem, tell endless stories, and nurture empathy. [12]

Mattel aims to empower kids to reach their full potential. Its brands achieve this purpose by designing innovative products. For example, in Oct 2024, Mattel’s Hot Wheels launched its new Challenge Accepted platform to help children cultivate a growth mindset. It ignites the challenger spirit in every child and empowers them through play to try, fail, repeat, and grow. [13]

Mattel’s Brand Promise

Mattel’s brand promise is founded on trust, which guides the company’s relationship with its staff, consumers, business partners, and communities. Trust ensures all Mattel brands do the right thing and live up to their commitments.

Mattel’s brand promise focuses on product attributes, including quality, safety, and value. The company earns trust by operating with integrity and transparency, fulfilling its mission and purpose as a trusted partner to parents and families. This approach protects Mattel’s reputation and competitive advantage, driving long-term success. [14]

1. Quality

Mattel prioritizes the consumer experience in its innovation by creating products with purposeful play. Its design team focuses on the appearance, functionality, materials, and packaging of toys. However, Mattel failed to deliver this brand promise with its new “Wicked” doll. The company faced backlash from disappointed fans and concerned parents, damaging its reputation and eroding consumer trust. It apologized to affected clients, recalled defective products, and implemented damage control measures. In 2024, Mattel was sued for $5 million to compensate US consumers who bought “Wicked” dolls with the incorrect link. [15]

2. Safety

Mattel designs and develops its products to meet or exceed all safety standards. Its Quality Team has around 450 professionals, including engineers, product safety specialists, compliance experts, test laboratory personnel, and child development experts. The company uses a 5-step product safety strategy. First, Mattel’s Quality Team reviews all concepts. They guide product designers on quality and safety standards. Second, its product developers follow Quality Team’s safety, quality, reliability, durability, and testing guidelines. Third, the company conducts several pilots to test concepts before production begins. Each Mattel manufacturing facility implements continuous testing and improvement, ensuring products meet high safety standards. [16]

3. Value

Mattel designs its products and experiences to deliver an intrinsic value that entertains, inspires, and develops children through play. It ensures parents and families get the most from their play budget by creating toys that meet their expectations. The company adopted several circular economy and business model innovations to extend product life and reuse products and materials. For example, its American Girl Doll Hospital repairs and restores dolls. It also cleans, restyles, and customizes toys for customers. In 2020, the American Girl Doll Hospital repaired over 28,000 dolls, extending their lifetime and maximizing value for owners. [17]

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Mattel’s Sustainability Strategy

Mattel is committed to building a sustainable business and supporting communities. It strives to create value for its stakeholders and contribute to a better future for the next generation. In 2019, Mattel set several sustainability goals, including:

Use 100% recycled, recyclable, or bio-based plastics in all toys and packaging by 2030.
Maintain 95% recycled or Forest Stewardship Council (FSC)-certified content in the processed paper and wood fiber used in products and packaging.
Reduce plastic packaging by 25% per product by 2030. [18]

How is Mattel progressing on its sustainability goals?

Mattel’s ESG strategy focuses on sustainable product design and development, responsible sourcing, and nurturing inclusive communities. It develops innovative products that are better for the world by integrating sustainable materials and circular design principles. Mattel also optimizes its resource use in operations to reduce environmental effects and promotes ethical sourcing practices and worker health and safety across its supply chain. In 2021, the company launched Mattel Playback with free shipping. Parents can use this program to recycle Mega Bloks, old Barbie dolls, and Matchbox cars and games to Mattel’s collection sites for recycling and reuse. The toymaker released certified carbon-neutral toys in 2022, and the Tesla Roadster, made from 99% recycled materials. [19]

Mattel strives to create a sustainable future for young people through toy repair, reuse, and recycling schemes. It is committed to reducing its products’ impact on the planet. In 2021, Mattel increased recycled PET (polyethylene terephthalate) in its window cartons and blister packs from 25% to 30%. The brand expanded its How2Recycle label usage on packaging in the US and Canada and achieved 97.9% recycled or FSC-certified content in the paper and wood fiber. It also achieved zero-waste packaging for Mega Bloks Big Building Bag. “Our goal is to contribute to a more diverse, equitable, inclusive, and sustainable future,” said CEO Ynon Kreiz. [20]

References

Davies, K. (2025, Mar 19). Sales of Mattel worldwide 2018-2024, by region. Statista
Davies, K. (2025, Jan 14). Gross sales of US toy manufacturer Mattel in 2023 by brand. Statista
Mattel, Inc. About us: Our mission. Mattel.com
LaPorte, N. (2024, Mar 19). Most Innovative Companies 2024. Fast Company
McLoughlin, J. (2025, Feb 20). “Less than 40%” of Mattel toys to be produced in China in 2025, as trade war concerns grow. Logistics Manager
Mattel, Inc. (2025, Mar 24). Mattel and Disney Renew Multi-Year Global Licensing Agreement for Toy Story Franchise. Mattel.com
Battle, T. (2025, Feb 28). Mattel Celebrates Music with New Barbie Career and Role Model Dolls. Toy Book
Mattel, Inc. (2023, Aug 7). Mattel Adventure Park is set for the 2024 opening, featuring a first-of-its-kind Hot Wheels Bone Shaker Rollercoaster. Mattel.com
Mattel, Inc. Purposeful Play. Mattel.com
TA Staff (2024, Jun 12). Mattel was Recognized for its Leadership by the California State Legislature for International Day of Play Initiatives. The Toy Association
Mattel, Inc. About us: Our purpose. Mattel.com
Mattel Inc. (2024, Aug 30). Barbie Launches New Brand Campaign Championing Parents’ Belief in Kids’ Potential. Mattel.com
Mattel, Inc. (2024, Oct 16). Hot Wheels Ignites New “Challenge Accepted” Platform Dedicated to Building Resilience and Fostering a Growth Mindset in Children. Business Wire
Mattel, Inc. About us: Brand promise. Mattel.com
Sutton, A. (2024, Nov 25). Quality Control: Don’t Replicate Mattel’s ‘Wicked’ Mistake. Way We Do
Mattel, Inc. Product Quality and Safety. Mattel.com
Mattel, Inc. (2022, Apr 14). Business Model Innovation: Circularity. Mattel.com
Verdon, J. (2022, Jun 7). Mattel Continues Its Efforts To Be Greener By Expanding Its Toy Recycling Program. Forbes
Mattel, Inc. Citizenship: ESG Strategy. Mattel.com
King, C. (2023, Jul 31). Mattel’s sustainability goals promote net zero play. Sustainability Magazine
Featured Image by Elena Mishlanova

Mattel Mission Statement Analysis