Hot Wheels celebrated its 60th anniversary last year and had a whole lot of special releases and events. All of this helped Mattel and actually the toy cars brand had its best year ever, ToyNews reported.
Hot Wheels had $834.1 million in revenue. Barbie was even better and netted $1.09 billion in sales. It’s Barbie’s highest full year gross sales in five years.
Both top brands for Mattel helped offset the expected fall in revenue a bit. As a result, the total revenue of the company fell less than expected. The gross margin improved and the cost-cutting plan of Mattel is starting to give results.
Mattel also launched a new venture – making movies. It’s already working on a movie for Hot Wheels and a live-action Barbie movie which will star Margot Robbie. So, the expectations for this year might be even higher. Or at the least, they will be for Mattel to continue to show improvement.