Mattel Launches New Line of Barbie Dolls Ahead of Holidays

Mattel is launching on Monday a new line of Barbie dolls that will be sold at Walmart, Target, and Amazon.
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Mattel Inc.  (MAT) - Get Report will be releasing the newest line of Barbie dolls ahead of the holidays on Monday at Walmart,  (WMT) - Get Report Target  (TGT) - Get Report and Amazon,  (AMZN) - Get Report according to media reports.

The dolls with various hair types and bodies will be sold at a retail price of $24.99 each, Mattel officials told USA Today.

"Each doll rocks their own unique style and offers girls an exciting fashion and styling play experience with posable, articulated bodies," Kim Culmone, senior vice president and global head of design for Barbie and fashion dolls, told USA Today.

The company looked into street style, fashion runways, and culture among other sources for design inspiration, according to Culmone.

Earlier this year, Mattel revealed additions to its Barbie Fashionistas line. Seven of those dolls reflected diversity including a doll that uses a wheelchair.

Barbie’s top seller throughout 2019 was a curvy black doll with an Afro, according to USA Today.

The company aims to offer dolls that encourage social information processing and empathy skills among children, according to Culmone.

In October, Mattel shares surged the most in five months after the El Segundo, Calif., company beat third-quarter earnings estimates. Barbie and Hot Wheels sales jumped amid renewed toy purchases during the global coronavirus pandemic.

Mattel said adjusted earnings for the three months ending in September came in at 95 cents per share, nearly triple the figure of the year-earlier period and more than doubled the Wall Street consensus forecast of 39 cents a share. 

Hot Wheels and Barbie sales helped boost the group's revenue 10% to a forecast-beating $1.63 billion.

At last check Mattel shares added 5.6% to $14.54.