BRAND FINANCE TOYS 25 2024
Barbie’s brand bounces back? Brand value soars following blockbuster movie success.
- Barbie ascends to third place in toy brand rankings, bucking the industry downturn.
- A decade of dominance: LEGO’s foundation for sustained brand value.
- Japanese toy brands climb swiftly in the latest rankings.
Barbie’s brand value has experienced a modest increase to USD 720.8 million, as per the latest figures from Brand Finance, the premier brand valuation consultancy globally. The renowned doll brand also enjoyed a minor rise in its brand strength index (BSI) score to 88/100, earning a robust AAA brand strength rating. Consequently, Barbie has advanced one position to secure third place in Brand Finance’s most recent Toys 25 ranking. This progress occurs despite the wider challenges that toy manufacturer Mattel and the global toy industry face, which has witnessed a general dip in brand value.
Richard Haigh, Managing Director, Brand Finance UK, commented:
“The Barbie film undoubtedly garnered significant global attention and contributed to an uptick in engagement with the Barbie brand, especially among young adults who enjoyed the film’s nostalgia. That said, a single cinematic success does not guarantee sustained growth. More brand engagement and popularity does not automatically translate into more Barbie doll purchases. To fuel further growth for the Barbie brand in the coming years, Mattel must find ways to strategically leverage this global brand exposure to maintain consumer interest in its iconic doll line, particularly among the key toy-purchasing demographics.”
Barbie’s brand underwent a revival towards the end of last year after the release of Greta Gerwig’s blockbuster Barbie movie, which emerged as the top-grossing film of 2023 and a global cultural sensation. The film’s success significantly enhanced Barbie’s worldwide brand recognition, enthralling audiences everywhere with a contemporary take on the tale of the iconic doll.
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However, despite the Barbie brand’s encouraging growth due to the film, Mattel’s overall sales forecast remains constrained. The decline in Mattel’s sales has cast uncertainty over whether this achievement can translate into a lasting interest in the Barbie brand in future years. This downward trajectory mirrors the wider economic difficulties impacting consumer demand in the toy industry, where a waning interest in toys poses further obstacles for companies like Mattel.
LEGO retains its title as the world’s most valuable toy brand for the tenth consecutive year, with its brand value increasing by 6.5% to USD 7.9 billion. Driven by a year of robust sales performance, the brand has inaugurated 147 new LEGO-branded stores globally, strengthened its digital footprint, and introduced innovative new products.
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