Editors' pick: Originally published March 10.

Barbara Millicent Roberts, known to most as Mattel's (MAT) Barbie, turned 58 years old on Thursday.

American businesswoman Ruth Handler launched Barbie--named after her daughter Barbara--on March 9, 1959, at the American Toy Fair in New York City. Handler was inspired by a German doll called Bild Lilli.

Toymaker Mattel has sold more than 1 billion Barbie dolls, making it one of the company's most popular toys in American history. But recently, Barbie sales have been in decline, leaving one to wonder if it's almost time for her to retire. 

The Barbie name was actually created from a series of Novels published by Random House in the 1960s about the doll. 

The first Barbie doll from 1958 (right) and Barbie through the years
The first Barbie doll from 1958 (right) and Barbie through the years

Barbie dolls through the years

Under former Mattel CEO Christopher Sinclair, Barbie was given a necessary makeover, adding various new body shapes and skin tones to the doll - which was criticized for its lack of individuality and unrealistic one-type body figure.

Late last January was when petite, curvy and tall Barbie made their debut. But during the company's first quarter of 2016, sales of Barbie still declined 3.4%, despite the transformation.

Barbie Swimsuits
Barbie Swimsuits

Barbie hits the beach

In Mattel's recent fourth quarter, which proved to be disastrous for the company, Barbie sales fell 2% in North America.

Maybe, it's time Barbara Millicent Roberts threw in the towel and Mattel focus on tech toy growth as it continues to battle rival Hasbro (HAS) for supremacy in the toy world.

In January, Mattel appointed former Alphabet's  (GOOGL) Google President of the Americas, Margaret Georgiadis, 52, to CEO. Georgiadis has been pushing tech expansion since joining the company through moves such as partnering with e-commerce giant Alibaba  (BABA) to develop educational and interactive toys specifically for Mattel's Chinese market.

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