This Guy Saved Barbie From Cultural Extinction. He Did It by Asking One Big Question.
Not so long ago, sales of the tall, blonde doll were in a death spiral. Now Barbie is back in a big way.
How do you save a brand that everyone knows, but not everybody likes?
Back in 2014, the toy companyMattelneeded an answer to that question — fast. It owns popular brands like Hot Wheels and Fisher-Price, but one of its consistently top-selling products has long been Barbie. The tall, blonde doll enjoyed ubiquity for over half a century, but her popularity was slipping. To many people, Barbie had come to represent outdated standards of beauty and gender norms, and sales had dropped 20% in the prior two years alone. So the company called Richard Dickson, a former Mattel executive who'd left to run a fashion brand, and asked him to come back and save the famed doll. "We were in a real moment of truth around the brand's continued evolution," Dickson says. But he saw a way forward: They would double down on the brand's deeper mission, and then use that to guide many big changes. As a result, since that critical moment, Barbie sales have more than doubled. The brand had its best year ever in 2021, and was on track for more growth in 2022. Here, Dickson explains how he did it — and why he says that "while evolution makes a brand relevant, purpose makes a brand immortal."
New Year’s Sale! Unlock this subscriber exclusive article & so much more for 20% off today.
Become an Entrepreneur+ member to get unlimited access, no ads, exclusive discounts, and complimentary magazine subscription.
Subscribe today for 20% off. Just use code SAVE20 at checkout.
Entrepreneur Editors' Picks
-
These FriendsUse an Underrated Strategy to Run a Charcuterie Side HustleThat's on Track to Make at Least $80,000 in December
-
I'm a Business News Editor, and EvenI Fell Victim to an Online Scam That Cost Me $300
-
Switching to a 4-Day Workweek Sounds Like a Great Idea.但是可以交流tually Make Burnout Worse?
-
What Is Lensa AI? AndDoes It Pose Privacy and Ethical Concerns?
-
This Artist Who Made More Than $1 Million Teaching Online ClassesBreaks Down How to Earn Big in 2023
-
Here's Why You ShouldDrink Coffee Before You Nap
-
Regional Favorites and National Companies Topped the Ranking of America's Top Restaurant Chains for 2023.Did Your Go-To Make the List?