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State of the Industry Q&A 2026: Steve Totzke, Mattel


Coming off our 80th anniversary in 2025, Mattel entered 2026 with strong momentum across our core brands and, importantly, with clarity on where we are focusing our efforts. Barbie, Hot Wheels, Fisher-Price, and UNO continue to anchor the portfolio because they consistently earn relevance through innovation, cultural connection, and global scale.

Across these brands, our approach has been disciplined: bigger ideas that travel globally, extend across categories, and build long-term franchises. That focus is reflected not only in our core businesses, but also in growth platforms like Mattel Brick Shop, a resurgent American Girl in its 40th anniversary year, and Mattel Creations, which expands our reach to adult fans.

Hot Wheels delivered its eighth consecutive year of growth in 2025, driven by innovation that broadens the brand’s reach without diluting its core. The Speed Snap track system makes play more accessible for younger consumers, while premium collaborations — from Formula 1 to Ferrari — continue to resonate with adult collectors, now the brand’s fastest-growing audience. At the same time, initiatives like Mattel Brick Shop allow fans to engage with the brand in new, creative ways.

UNO further extended its leadership as the world’s No. 1 card game (per Circana) by evolving from a tabletop staple into a social experience. Partnerships and events, such as the UNO Social Club pop-ups, reflect our strategy of meeting fans where play, culture, and community intersect.

Barbie continues to lead the cultural conversation by pairing relevance with purpose. Launches like the recent autistic Barbie doll demonstrate how the brand continues to evolve, deepening trust, broadening representation, and strengthening engagement across generations.

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